International Specialty Products Inc. (ISP) announced that, through one of its subsidiaries, it has signed a definitive agreement to acquire the assets of the biocide business of Milker & Grüning GmbH (M&G). The transaction, which is expected to close in the second quarter, is subject to customary closing conditions.
M&G, located outside of Frankfurt, Germany, is the leading European-based manufacturer of iodopropynyl butylcarbamate (IPBC).
“IPBC is one of the most important and effective preservatives for personal care, paint, coating and industrial applications,” said Sunil Kumar, ISP’s president and CEO. “Through this acquisition, ISP gains access to a low-cost source of high quality product, providing us with a significant advantage in the global biocides market.”