Livingstone’s Industrial sector team has advised IQAP Masterbatch Group, S.L., a Spanish privately-owned and innovative provider of speciality colourants and additives, on its acquisition by PolyOne Corporation, a premier global provider of specialised polymer materials, services and solutions. Terms of the deals were not disclosed.
Founded in 1979 by Xavier Rovira, IQAP is a highly innovative company that has always firmly opted for research, development and innovation as a corporate growth strategy. The Company offers a broad portfolio of polymer colourants, additives and technical solutions for a wide range of industries.
IQAP operates two production facilities in Ibi (Alicante) and Vic (Barcelona). The Company also operates a laboratory and commercial offices in the Navarra region (Spain), as well as additional production capability in the Czech Republic. PolyOne will implement its proven invest-to-grow approach with IQAP. The company is dedicated to serving customers in diverse industries around the globe, by creating value through collaboration, innovation and an unwavering commitment to excellence.
“IQAP is a fantastic addition to our longstanding and growing expertise in colour and additives innovation,” said Robert M. Patterson, chairman, president and CEO, PolyOne Corporation. “The end markets that IQAP serves are perfectly aligned with areas PolyOne knows very well, and together we will advance the possibilities for our European customers working to meet demanding new standards for design, functionality and performance.”
Xavier Rovira, IQAP’s founder said: “I’m thrilled for IQAP customers and employees whose future can continue to grow and prosper as part of the global PolyOne family. We evaluated many potential buyers for IQAP, and PolyOne was the clear choice that best aligns with our vision and ideals for world-class innovation and customer service.” And he added: “I have known Neil Collen for many years, and I had no doubt on the Livingstone team capacity to help us in this transition process and identify a new owner for IQAP. Livingstone demonstrated their ability to navigate the complexities of a cross-border transaction, interacting both with national and international investors and their advisers, and they found the solutions that have led to the successful completion of a transaction that benefited all the parties involved. The experience, professionalism and dedication of the Livingstone team have been a key aspect for the success of this transaction.”
Neil Collen, Partner at Livingstone, commented: “It was a pleasure to work with Xavier and his team. IQAP is a tremendously innovative company in its sector. Xavier realised what was the best moment to look for a strategic investor with the capacity to ensure the continuity of his company and offer opportunities for his employees and collaborators.”
Jorge Tuñí, Associate Director at Livingstone, added: “Working with the IQAP team has been a very rewarding experience. IQAP is a fantastic company and we are delighted that the buyer is one of the world’s leading companies in the chemical industry. This clearly reflects the increasing M&A activity in Spain and a growing interest in the chemical sector with US corporate investors looking at strategic partners in Spain.”