Germany's Evonik to acquire Monarch Catalyst

German specialty chemical company Evonik Industries AG, has signed an agreement to acquire 100% state of Monarch Catalyst Pvt Ltd, Dombivli (Thane, Maharashtra), in order to strengthen its global catalysts business. The transaction is expected to close during the first half year of 2015 after the required approvals have been received. The parties have agreed to keep the purchase price confidential.
 
Evonik is one of the leading global players in producing specialty catalysts, custom catalysts and catalysts components for the life sciences & fine chemicals, industrial & petrochemical and polyolefines market segments. This bolt-on acquisition of Monarch Catalyst with annual sales in the low double-digit million Euro range complements Evonik’s leading positions in activated base metal catalysts and precious metal catalysts. Monarch’s global oils & fats hydrogenation catalysts business is a broadening of the Evonik catalysts portfolio. Monarch Catalyst has about 300 employees.
 
Shantilal Vadalia, chairman of the Board of Monarch Catalyst and co-founder of the company, sees this transaction as a great opportunity for his company and its employees to continue their growth path within the frame of a leading global specialty chemicals company such as Evonik. “We are glad to see how well both businesses fit together in India and for the rest of the world, and Evonik’s plans for the production site in Dombivli,” commented Vadalia.
 
“This proposed acquisition continues the trend of global companies looking to acquire high quality businesses with leadership positions in their respective segments within the overall specialty chemicals space,” added Preet Mohan Singh, executive director & head industrials group, Avendus Capital Pvt Ltd, which advised Monarch Catalyst on its sale to Evonik Industries AG.
 
Monarch is a family owned enterprise founded in 1973 by Dr K Muthukumar and Shantibhai Vadalia with its production site in Dombivli, near Mumbai. It is recognised as a global catalyst supplier and respected for its consciousness and efficient use of resources.