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J Rich Alexander, who held a number of senior operating executive positions during a 35-year career at PPG Industries, has joined Advent International as an operating partner.
He will work closely with Advent's chemicals team to identify and evaluate new investment opportunities in the chemicals and materials sector and create value in existing portfolio companies.
Alexander (pictured) serves on the board of directors of Allnex, a supplier of coating resins and additives that Advent acquired last year from Cytec Industries.
Alexander most recently was a member of PPG's executive and operating committees and oversaw the company's global architectural coatings, fibre glass and flat glass businesses, as well as its corporate functions for marketing, purchasing and distribution. Among other responsibilities, he served as global general manager of PPG's general industrial coatings group, as vice president of the company's industrial coatings division and as executive vice president of PPG's performance coatings and glass reporting segments. Alexander also has served since 2009 on the board of directors of Calgon Carbon Corporation.
"Rich is a proven leader in the chemicals and materials space and brings deep experience in operations, marketing, production and distribution," says Ronald Ayles, managing director and head of Advent’s chemicals practice. "We have been impressed with Rich and the value he brings to our investment in Allnex, and we are very pleased to add him as an advisor to our firm. His formal addition to our operating partner programme strengthens our robust international team."
"Advent is one of the leading investors in the global chemicals industry, and I'm pleased to join the team," says Alexander. "We have developed a strong partnership as we have worked to help Allnex grow as an independent company, and I'm looking forward to expanding our relationship to other investment opportunities."
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