The Industri Kapital 1994 Fund, M-real Corporation, Gilde Buy-Out Fund BV and the management of Noviant have finalised the sale of all shares in Noviant Oy to US-based J.M. Huber Corporation.
Noviant is a global leader in the manufacturing and marketing of the world’s most widely used cellulose ether, carboxymethyl cellulose (CMC). CMC is a water soluble polymer with a wide usage in various industries such as the paper, food, pharmaceuticals, personal care, oil drilling and detergents industries. Noviant reported net sales of EUR 188 million in 2000, and has approximately 450 employees.
J.M. Huber Corporation is a diversified, multinational supplier of engineered materials, natural resources and technology-based services to customers spanning many industries, from paper and energy to plastics and construction. With announced sales exceeding $1-billion, Huber is one of the largest family-owned companies in America. The company offers total solutions in inorganic chemistry, 3-D seismic exploration, engineered wood composites and other specialities.
Industri Kapital is a leading European private equity firm with equity capital under management in excess of EUR 3 billion. Since 1989, 43 investments have been made in European companies in various industries. The fund investors are generally large Nordic, European and American institutional investors such as pension funds, investment and insurance companies.
For more information please contact:
Michael Rosenlew, Director, Industri Kapital, +46-8-678 95 00