PTTGC International (Netherlands) B.V., a GC subsidiary, has Announced a Landmark Acquisition of Global Coating Resins Leader Allnex

PTTGC International (Netherlands) B.V., a fully owned subsidiary of PTT Global Chemical Public Company Limited, has signed a deal to purchase industrial coating resins producer Allnex Holding GmbH from Allnex Holdings S.à.r.l and Allnex S.à.r.l, funds advised by Advent International.

The purchase allows G.C. Group to expand its business portfolio into specialty chemicals and enhance its leadership position in the chemicals industry by integrating environmentally friendly ideas with advanced technologies. In addition, through future investments, G.C. will serve as a long-term strategic partner to enhance allnex's market access to the Asia Pacific (APAC) region and grow its presence in emerging markets.

allnex is the world's largest manufacturer of industrial coating resins, providing a diverse range of coating polymers and additives such as powder coating resins, energy curable resins, crosslinking resins, and additives for use on a variety of substrates such as wood, metal, and plastic. With approximately EUR2 billion in revenue and an EBITDA margin of 17-19%, as well as a global production network of 33 cutting-edge manufacturing sites in 18 countries, 23 research and technology facilities, and approximately 4,000 employees worldwide, allnex holds leadership positions in all key industrial coating segments, including industrial metal, automotive, and packaging. For almost 70 years, the company has pioneered sustainable innovations for the coating industry, with the most recent rebranding to allnex in 2013.

Subject to regulatory clearances, the sale of allnex to ("G.C. Inter B.V.") is anticipated to complete in Q4 2021.

About PTT Global Chemical Public Company Limited
PTT Global Chemical Public Company Limited, or G.C., was established on October 19, 2011, as a public limited company to serve as the PTT Group's chemical flagship operation. In February 1984, G.C. was formed by the merger of many major companies, including National Petrochemical Co., Ltd. Since its inception, G.C. has committed itself to become a sector leader, with a combined olefins and aromatics capacity of 11.65 million tons per year, as well as a crude oil and condensate refining capacity of 280,000 barrels per day. The Group Performance Center – Refinery & Shared Facilities; Group Performance Center – Aromatics; Group Performance Center – Olefins; Polymers Business Unit; EO-Based Performance Business Unit; Green Chemicals Business Unit; Phenol Business Unit; and Performance Materials & Chemicals Unit are the company's core businesses. In terms of size and product diversity, G.C. is Thailand's biggest integrated petrochemical and refining company and a leading corporation in the Asia-Pacific area.

About allnex
allnex is the world's largest manufacturer of industrial coating resins and additives for architectural, industrial, protective, automotive, and specialty coatings and inks. Allnex is a specialty chemicals pioneer with a diverse product line that includes revolutionary liquid resins and additives, radiation cured and powder-coated resins and additives, and crosslinkers for wood, metal, plastic, and other surfaces. Allnex now has a global presence with 4000 people, 33 production locations, and 23 research and technology support centers.

Advent International's Mission
Advent International Corporation, founded in 1984, is one of the biggest and most experienced worldwide private equity investors. The company has invested in over 375 private equity deals in 42 countries and has EUR62 billion (US$76 billion) in assets under management as of December 31, 2020. Advent has developed a globally integrated team of over 240 private equity investment experts throughout North America, Europe, Latin America, and Asia, with 14 offices in 11 countries. The company invests in five main sectors: business and financial services, health care, chemicals and industrial, retail, consumer and leisure, and technology.

In recent years, Advent has made investments in over 30 businesses in the chemicals sector. Röhm, a worldwide leader in methacrylate chemicals, allnex, a global leader in resins for the paints and coatings industry, and Oxea, a major provider of oxo alcohols and oxo derivatives, are a few examples. Additionally, Advent has made investments in VIAKEM, a major producer of fine chemicals, and GTM, a transnational distributor of chemical raw materials in Latin America.

After 35 years of international investing, Advent International Corporation is still determined to work with management teams to deliver long-term revenue and earnings growth for its portfolio companies.