Arsenal Capital to acquire
Evonik’s global colorants business
Arsenal Capital Partners, a New York-based private equity firm that invests in
middle-market specialty industrial,
healthcare and financial services companies, has entered into an agreement to
acquire the global colorants business
from Evonik Industries.
Evonik’s colorants business develops,
produces and markets the Colortrend
brand of paints for decorative end-use
applications in the architecture sector.
Its Chroma-chem products are used for
industrial applications including maintenance and marine and timber coatings.
The colorants are also formulated for
ecological sustainability. In 2011
Evonik’s colorants business generated
sales of around €130 million, with
roughly half of this amount coming
from the United States. In addition to a
facility in Lockland, Ohio, U.S., there
are production plants in Maastricht, the
Netherlands; Dandenong, Australia; and
Brampton, Canada, operating with over
300 employees.
The transaction is expected to be
closed in April 2012, subject to the approval of Evonik’s supervisory board and
regulatory approvals.
lines and risers for the subsea developments. BASF’s Polyurethane Solutions
team worked closely with Perma-Pipe to
develop customized Elastoshore products
that fit Perma-Pipe processes for both line
pipe and custom coating applications.
The resulting Perma-Pipe Auto-Therm
GSPU technology is being used in more
than 100 miles of flowline and riser pipe
insulation currently installed in the Gulf
of Mexico.
The WHO DAT deep ocean field is located in the Mississippi Canyon numbers
503 to 547 situated under 3,000 feet of
water. The field required the insulation of
51,000 feet of flowline as well as four
PLETS, eight jumpers and fifteen shroud
covers. The field became operational in
December 2011.
The Mandy deep ocean field is located
in the Mississippi Canyon Blocks number
199 situated under 3,000 feet of water
and required the insulation of 31,000 feet
of flowlines and risers as well as four
PLETS, six jumpers, nine shroud covers
and one manifold. Installation of the
equipment is planned for March 2012,
with the field becoming operational in
April 2012.
“Keeping the same chemistry of wet insulation for the flowlines and subsea
equipment is an advantage for our operators,” said Hank Reuser, vice resident of
sales and marketing for Perma-Pipe Oil
and Gas. “Using the same materials, Auto-Therm GSPU, for the entire scope of flow
assurance promotes consistency, and a
strong sense of confidence.” CW
Index to Companies
This index gives the starting page for a department or feature with a signifi-
cant reference to a manufacturer of paint, coatings, adhesives and sealants.
Subsidiaries are indexed under their own names.
BASF collaborates with Perma-Pipe Oil and Gas for deep
ocean developments
BASF is participating in collaborative
projects with Perma-Pipe Oil and Gas,
New Iberia, Louisiana, under contract
to LLOG Exploration Company LLC,
Houston, Texas, to supply glass syntactic polyurethane (GSPU) insulation for
the Mandy and WHO DAT subsea developments.
BASF supplied Elastoshore ZeroHg
technology to Perma-Pipe, allowing
Perma-Pipe to apply its Auto-Therm
GSPU “wet” insulation to the flowlines,
risers, pipeline end terminations (PLETS),
manifold, jumpers and shrouds required
for the subsea developments.
Perma-Pipe insulated more than 81,000
feet, or 16 miles, of four- and six-inch flow-
www.coatingsworld.com
March 2012
