Pan-European private equity firm Silverfleet Capital has entered into a binding agreement to sell Prefere Resins (Prefere), a specialist in phenolic and melamine resins, to One Rock Capital Partners (One Rock).
Completion of the transaction is subject to customary anti-trust and FDI approvals and is expected to occur in the second or third quarter of 2022.
The terms of the transaction have not been disclosed.
Silverfleet invested in Prefere Resins in 2018 having identified the potential to help the Company expand further, both organically and through acquisition. Since then, Prefere has developed well; investing in new capacity, growing its product suite and expanding globally through the acquisition of the Melamines & Paraform business from INEOS Enterprises.