Croda snaps up Finish firm in another large acquisition

Chemical firm Croda International has announced that it has acquired Finish firm IonPhasE for €24m.

Croda chief executive Steve Foots

The Goole-based firm, which supplies some of the biggest manufacturers in the world, will now take ownership of the technology supplier of static electricity protection products headquartered in Tampere, Finland.

It comes after Croda - led by chief executive Steve Foots - acquired a Swedish firm, Enza Biotech AB, earlier in the year.

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IonPhasE has developed a unique range of anti-static additives that help to prevent damage to electrical components, increase the safety of chemical and food packaging and improve the long term appearance of consumer appliances.

Maarten Heybroek, president of performance technologies at Croda said: “This acquisition supports our growth strategy within high technology, consumer driven material markets.

“We are delighted that IonPhasE is bringing its industry leading knowledge in the rapidly growing market for Electrostatic Discharge Protection to Croda”.

IonPhasE’s products are a natural extension to Croda’s existing product portfolio and, by bringing together the expertise of both research and development teams, Croda will be able to offer a broader and more diverse range of products to its customers through its dedicated global marketing and sales force.

Mr Heybroek said: “The acquisition of IonPhasE presents a significant opportunity for us at Croda, with its differentiated and patented product range, operating in a niche, high value sector of the polymer market.

“The experience and knowledge of the IonPhasE management team, coupled with our innovation strength, global sales reach and complimentary technologies, will allow us to better meet the needs of our customers within our Smart Materials sector.”

Claus Carlsen, chief executive officer at IonPhasE said: “For over 15 years, we have focused on developing our technology in response to the needs of our customers. We are looking forward to developing this further with Croda’s support and expertise, whilst being able to reach existing and new customers faster through a higher level of customer intimacy. All of the team here at IonPhasE is excited about our future within Croda.”

Croda has a workforce of 4,200 employees.