Salvepar is to make an additional investment of EUR35.5 million in Les Dérivés Résiniques et Terpéniques (DRT), bringing its total investment from EUR5 million to EUR40.5 million.
The equity investment, alongside the founding families, brings additional resources to DRT to finance its ambitious growth plan in line with the company’s roadmap when Salvepar became a shareholder in 2014.
The funds will allow DRT to fund the USD150 million acquisition of Pinova from Symrise. Pinova, headquartered in Georgia, US, is active in DRT’s core business and is one of the leading manufacturers of plant-based resins.
Christian de Labriffe, chief executive officer of Salvepar, says: “We are really happy to make this additional investment in DRT which is perfectly in line with Salvepar’s minority investment strategy. It will allow the company to finance its ambitious international expansion plan driven by top-quality management alongside a stable shareholder base. The acquisition of Pinova Inc significantly expands DRT’s product portfolio, strengthens its position within the North-American markets, and opens a new stage of its growth.”
