Arxada Completes Merger with Troy
Basel, Switzerland – 5 January 2022 – Arxada, a leading global specialty chemicals business, today announces the completion of the merger with Troy Corporation, a global leader in microbial control solutions and performance additives. The combination, announced on 3 November 2021, creates a comprehensive and innovative offering in Arxada’s Microbial Control Solutions (‘MCS’) business, enabling the delivery of new solutions and value-added services to customers.
Troy is a global leader in the field of industrial preservation with broad expertise in paints and coatings, wood protection and preservation, home and personal care, plastics and textiles, energy and metal working fluids.
Arxada will benefit from Troy’s technical expertise, trusted customer relationships and broad portfolio of performance products as well as its long history of innovation, including the invention of 3-iodo propynyl butyl carbamate (IPBC). Troy brings five new production sites across the world, four Research and Development centers and approximately 650 employees, enhancing Arxada’s commercial presence across the globe to further accelerate the Company’s innovation capabilities and better serve customer needs.
The completion of the combination with Troy follows the acquisition of Enviro Tech Chemical Services, a category-leading manufacturer of proprietary and high-efficacy antimicrobial and biocidal products, announced on 23 December 2021.
Marc Doyle, Chief Executive Officer of Arxada, said:
“The completion of two strategic deals in our first six months as an independent company shows our commitment to strengthening our position as a partner of choice in microbial control through the addition of new applications and active ingredients to our portfolio. We are delighted to welcome our new colleagues and look forward to building on our combined expertise to deliver new solutions and services to our customers.”
Kirkland & Ellis acted as legal adviser and The Valence Group of Piper Sandler as financial adviser to Arxada and its owners Bain Capital and Cinven. Norton Rose Fulbright US LLP acted as legal adviser, and JP Morgan Chase acted as financial adviser to Troy Corporation.