The acquisition of BASF Printing Systems by funds of the European private equity firm CVC Capital Partners (CVC) was closed Nov. 30. The sale covers all facilities and activities of the business, including the production of alkali blue at BASF Corporation’s plant in Huntington, WV. Closing for CVC’s acquisition of the pigment production of BASF Colorants & Chemicals Co. Ltd. in Shanghai, China is expected in 2005.
CVC’s acquisition of the Swedish printing inks manufacturer ANI Printing Inks was also closed Nov. 30. The transaction has been approved by the regulatory authorities.
The new group develops, produces and markets printing inks, printing plates and pigments/resins for the graphics and packaging industry. The company has 65 fully-owned subsidiaries in 30 countries, and a wide network of distributors covers another 50 countries. The group, which will be headquartered in Stuttgart, Germany, employs 3,600 people worldwide and had sales in 2003 of $1.03 billion.