Ravago Group has acquired Indukern

Indukern is a family-owned company dedicated to the commercialization of value-added chemical products and solutions, with a clear focus on the food, flavors and fragrances, pharmaceutical and animal nutrition application areas.

This transaction will fundamentally strengthen Ravago’s specialty chemicals offering, Ravago Chemicals, and it confirms the company’s strategic direction to become a strong player in the specialty chemicals sector. The acquisition allows both companies to grow their presences in the market since both businesses have complementary product lines and geographies served. Ravago Chemicals is currently active in several markets, such as coatings, adhesives, sealants and elastomers, polyurethane and polymers, water, life science, care and base chemicals, among others.

With the acquisition, all of Indukern’s chemicals business and teams in Europe, including France, Switzerland, Portugal and its headquarters in Spain; Latin America, including Brazil, Colombia and Mexico; and China will transfer to Ravago. Indukern’s team currently holds more than 500 colleagues, of which 170 are located in Spain.

Lincoln International acted as the exclusive mergers and acquisitions (M&A) adviser to Ravago on this transaction.

This continues Lincoln International’s strong momentum since the beginning of 2021 in the broader chemicals space in Belgium. Earlier this year, the firm advised Blackstone on the acquisition of Desotec, an industrial filtration company, and the engineered foams producer FoamPartner on its sale to Recticel. Other notable global chemicals transactions advised by Lincoln International include the recently announced sale of Cetelon to PPG and the sale of Schmid Rhyner to Altana.

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