LANXESS AND ADVENT FORM JOINT VENTURE

LANXESS and Advent form joint venture. LANXESS and Advent International have completed the formation of their joint venture in engineering materials.

The joint venture, which commenced operations on April 1, 2023, is the result of the combination of DSM’s Engineering Materials business and LANXESS’s former High Performance Materials business.

LANXESS owns a 40% stake in the joint venture, while Advent owns the remaining 60%. Under the terms of the agreement, LANXESS received a cash payment of approximately EUR 1.3 billion on March 31. This will be used to reduce debt and strengthen the balance sheet.

Additionally, LANXESS will provide a loan of EUR 200 million to support the joint venture financially.

LANXESS is a specialty chemicals company headquartered in Cologne, Germany.

Advent International is a global private equity firm that invests in companies across various sectors and geographies.