Abstract
THE PRIVATE EQUITY company Arsenal Capital Partners has agreed to acquire DSM’s special products business for an undisclosed sum. The purchase continues Arsenal’s push into the chemical business, where it has already created and sold a firm. DSM Special Products’ main site is in Rotterdam, the Netherlands, where it operates the world’s largest plant for oxidizing toluene into benzoic acid, a starting point for the fine chemicals benzaldehyde and benzyl alcohol and the food preservatives sodium and potassium benzoate. Its sales last year were about $150 million, and it turned a slight operating profit, according to DSM. DSM put the business up for sale last September to focus on life sciences and performance materials. Upon completion of the deal, expected in the second quarter, Arsenal will rename the business Genovique Specialties. New York City-based Arsenal made a splash in the chemical industry by acquiring Rutherford Chemicals and Reilly Industries, both experts in pyridine chemistry, and ...
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