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25 Aug 2021

BENVIC GROUP ACQUIRES CHEMRES AND ENTERS THE US MARKET

Benvic announces the acquisition of the US-based company Chemres, a leading provider of polymers, custom compounds and solutions for a variety of industries including medical, packaging and wire & cable. With its headquarters in Princeton (New Jersey) and operations in Chesapeake (Virginia), Chemres is a specialty compounder with a strong position in the US contact lens market and it also has long-term customer relationships in the medical, wire & cable, and packaging industries. The company provides a high level of dedicated customer service as well as logistical and supply chain management expertise.

 

BENVIC ENTERS THE US MARKET

The merge with Chemres will enable Benvic to enter the US market and strengthen its link to the medical sector, allowing Benvic to become a key global supplier in this market. Benvic will combine its track record of supplying highly innovative solutions with the expertise of Chemres in the North American marketplace and its strong customer portfolio.

 

NINTH ‘ADD-ON' ACQUISITION FOR BENVIC

The acquisition of Chemres is the ninth ‘add-on' acquisition since Benvic joined Investindustrial's portfolio in 2018. Among others, in 2019 Benvic acquired Modenplast Medical, an Italian compounder, specialising in medical grade vinyl compounds and tubing extrusion. This was followed in 2020 by the acquisition of Luc & Bel, an Italian manufacturer which specializes in the design and manufacture of medical device components, and in 2021 with the purchase of selected TPE and PP compounding assets from Celanese.

 

IMPORTANT STEP FORWARD TOWARDS BENVIC BECOMING A GLOBAL LEADER

Luc Mertens, CEO of Benvic Group, said: "like Benvic, Chemres is a top performer in the compounding industry; out-performing competitors in growth, quality and client satisfaction. Our shared culture of performance and innovation will enable us to develop new business and technical synergies, and provide us with an exciting strategic opportunity in the US market. We look forward to working closely with the management team of Chemres in the coming years to expand our operations in North America and expand our polymer expertise across sectors, in particular in the medical sector. This acquisition is an important step forward in Benvic becoming a global leader in compounding."

 

READY TO GROW VIA ORGANIC AND ADDITIONAL COMPOUNDING ACQUISITIONS IN THE US MARKET

Paul Keimig, CEO of Chemres, said: "Chemres is excited to partner with Benvic in order to accelerate our growth as well as provide additional value for our customers. Benvic's proven success in similar markets and the desire to use Chemres to extend its portfolio in the US market was key in our decision making process. With Benvic's vision to be the global leader, Chemres will accelerate its growth through organic and additional compounding acquisitions in the US market. Together, Benvic Group, through Chemres, will have unparalleled, global capabilities in the compounding world."



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