Michelman Acquires Ecronova Polymer
Michelman recently announced it has acquired Recklinghausen, Germany-based Ecronova Polymer GmbH, a manufacturer of water-based polymers used in the production of paints and lacquers. The purchase includes all assets, technology and manufacturing facilities. The name Ecronova Polymer will continue to be used for business operations, and all current Ecronova Polymer products will remain unchanged in name and formulation.
Ecronova Polymer was owned by the company’s managing directors, Peter Montag and Anton Solich, and funds managed by Aheim Capital, a private equity investment firm. Montag and Solich will reportedly continue in their roles, and will be joined by Jean-Marc Verhaeghe, currently Michelman’s managing director for EMEA. Verhaeghe will assume overall operational responsibilities.