OM Group, Inc. has purchased Rahu Catalytics Limited, the developer of a unique iron-ligand-based chemistry for use in environmentally friendly coatings, composites and inks, from Unilever Ventures and Management. The transaction includes all related intellectual property rights and master patents, as well as all manufacturing and supply agreements. Terms of the transaction were not disclosed.
Since its founding in 2006, Rahu Catalytics has focused on the need for solutions that incorporate more renewable materials and deliver performance at lower energy, water and waste costs in the coatings industry. Since early 2009, the company has operated under an exclusive commercial agreement with OM Group with regards to its Borchi OXY-Coat product line, which is being utilized by the market leaders in the global coatings industry.
"We are excited to formally incorporate this innovative product into our portfolio of sustainable solutions for the coatings industry," said Joseph Scaminace, OM Group's chairman and CEO. "There is an ever-increasing need for environmentally friendly coatings, composites and inks throughout the world. Today's action will allow us to accelerate our ability to address this need and further solidify our leadership position in the growing coatings industry."