Benvic Compounds to be sold to International Chemical Investors Group

PVC Europe Group S.a.r.l (Investindustrial, London, U.K.), an independently managed investment subsidiary of Investindustrial Growth L.P. (Growth Fund), has signed a binding put option for the sale of Benvic Group SAS’ (Dijon, France) compounds business, Benvic Compounds, to the strategic investor, International Chemical Investors Group (ICIG, Luxembourg), subject to the consultation of Benvic’s works council in France and EU anti-trust approval. Closing is expected towards the end of the year. Benvic’s medical activities in Italy are expected to be retained by Investindustrial funds.

Benvic Compounds develops, produces and markets thermoplastic solutions based on PVC as well as engineering polymers and bio-polymer compounds. With approximately €500 million of sales and 630 full-time employees (FTEs), the company is said to be a leading PVC compounder in terms of volume its several specialty compounding applications in the U.S.

Since Investindustrial’s entry four years ago, Benvic Compounds has reportedly been transformed into a global thermoplastic solutions company through eight add-on acquisitions across Europe and the U.S. In addition to a successful international buildup strategy, Benvic Compounds pursued a number of value creation initiatives, building on the company’s core strengths, including end-market and product diversification, operational improvements and the strengthening of the management team.

Benvic has also rolled out several action plans to significantly reduce its CO₂ emissions and to eventually achieve carbon neutrality on direct scopes. Benvic also completed an ESG-linked refinancing, directing its action towards the circular economy by developing sustainable and renewable materials and solutions.

“Benvic has thrived under our ownership as a result of a strong industrially driven plan, with a clear investment rationale that has been executed with care and precision by our teams and management,” Andrea C. Bonomi, chairman of the Industrial Advisory Board of Investindustrial, says. “During Investindustrial’s ownership, Benvic started as a niche compounder and has been built into a global player in thermoplastics through an extensive and successful buy-and-build program across Europe and the U.S., which is an area Investindustrial has significant expertise in. We are confident that the company remains well positioned to continue its strong growth trajectory under its new owners.”