Polynt Group enters discussions to acquire Polyprocess
Decision finalization of acquiring the specialty gelcoats, color pastes and derivatives supplier will be April 2024.
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On March 5, Polynt SpA (Scanzorosciate, Italy), Groupe MV, Polyprocess (St. Jean D’illac, France) and other minority shareholders of Polyprocess entered into a non-binding memorandum of understanding (MOU) for the sale of Polyprocess to Polynt. Polyprocess is a supplier of specialty gelcoats, color pastes and derivatives for the composites industry, with a long-standing history of excellence among customers and an outstanding quality record recognized in the composites industry.
The parties have agreed to customary exclusivity undertakings while discussions are finalized and Polyprocess consults with its employee representatives on the proposed transaction. The contemplated transaction, should it go through, is expected to be signed and completed by the end of April 2024, in addition to the transfer of Polyprocess’ production plant located in Saint-Jean-d’Illac, France, to Polynt Group.
“Polyprocess will complement the offering product portfolio of the Polynt Group,” Rosario Valido, CEO of the Polynt Group, says. “The synergy of Polyprocess’ technology and experience, combined with the innovation leadership of Polynt Group, will contribute to further growth in industry.”
According to Matthieu Castet, manager GMV and GMV CEO of Polyprocess, “This project will give a new dimension to Polyprocess, particularly worldwide. It allows us to secure supplies but also to continue to develop new ranges of products, combined with our recognized know-how and that of the Polynt Group, to maintain our high standards of quality and innovation for the coming years.”
