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Dr. Rick Michelman will become President & CEO on January 1, 2022, and Steve Shifman will assume the role of Executive Chairman.
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CINCINNATI, OH (July 9, 2013) – Michelman has acquired Recklinghausen, Germany based Ecronova Polymer GmbH, a manufacturer of water-based polymers used in the production of paints and lacquers. The purchase includes all assets, technology and manufacturing facilities. The name Ecronova Polymer will continue to be used for business operations and all current Ecronova Polymer products will remain unchanged in name and formulation.
Ecronova Polymers was owned by the company’s Managing Directors, Mr. Peter Montag and Mr. Anton Solich, and funds managed by Aheim Capital, a private equity investment firm. Mr. Montag and Mr. Solich will continue in their roles as Managing Directors and will be joined by Mr. Jean-Marc Verhaeghe, currently Michelman’s Managing Director, EMEA. Mr. Verhaeghe will assume overall operational responsibilities. Ecronova Polymer’s customers will see no interruption in their service and will continue to work with their current Ecronova contacts.
According to Mr. Steven Shifman, Michelman President and CEO, “Ecronova Polymer manufactures exceptionally high quality products that are complementary to the solutions we currently offer our paint and coatings customers. However, the addition of their product lines, their people, as well as their innovative manufacturing processes, gives us greater technical capabilities that will be strategically utilized beyond just our paint and coatings business. With this key acquisition, we have enhanced our ability to develop powerful new solutions, and more importantly, new opportunities, for all customers who are using or developing water-based additives and coatings.”
Ecronova Polymer’s lines of water-based polymers include styrene acrylics, pure acrylic emulsions, vinyl acetate copolymers and polyurethane dispersions. “Like us, Michelman offers a variety of well-known brands, but has also emphasized flexibility and development of customized solutions”, said Mr. Montag. “Bringing the two companies together is going to solidify our position as the company that is truly capable of helping our customers win and grow.”
Mr. Solich went on to add, “Together, we are able to provide our collective customers greater application expertise, and a much wider variety of products used in their formulations. We look forward to exploring the exciting capabilities made possible by this transaction”.
With the acquisition, Michelman gains a physical presence in Germany and increases its European footprint. The company now has product development and manufacturing facilities in the Belgium/Luxembourg region, Germany, the U.S. and Singapore, plus a new technical service center in Shanghai serving the China and greater Asia-Pacific market.
About MichelmanMichelman is a global developer of water-based barrier and functional coatings for flexible film packaging, paperboard, and corrugated cartons; and water-based surface modifiers, additives and polymers for numerous industries including wood and floor care, industrial coatings, inks, fibers, composites, and construction products. Michelman serves its multinational and regional customers with production facilities in the U.S., Europe and Singapore, and a worldwide network of highly trained field technical support personnel.
About Ecronova PolymerEcronova Polymer GmbH has more than 35 years of experience in the development, production and commercialization of water-based polymers. Products include styrene acrylics, vinyl acetates, pure acrylic emulsions, and polyurethane dispersions for a variety of applications, especially in the area of paints and lacquers.