Synthomer plc announced that it has entered into an agreement to sell Synthomer a.s., the company that operates its Acrylate Monomers business in the Czech Republic, to Mutares SE & Co. KGaA, a listed German private equity and turnaround investor.
The Acrylate Monomers operation at Sokolov produces acrylic acid and related monomers for the European merchant market and employs about 300 staff at the manufacturing site. In addition to serving external customers, the facility supplies acrylic monomers to other Synthomer group companies and manufactures acrylic dispersions used by the group. Those internal supply arrangements will remain in place following completion of the transaction.
Within Synthomer's corporate structure, Acrylate Monomers is housed in the Health & Protection and Performance Materials division. The unit participates in cyclical commodity markets and is described by the company as one of the more capital-intensive elements of its portfolio. It is also the only remaining upstream business in Synthomer's lineup. Management had flagged the unit as non-core during a strategic review that was announced in October 2022.
The planned disposal is intended to remove a cyclical, capital-heavy base chemicals activity from Synthomer's operations and accelerate the group's transition toward specialty chemicals. According to the company, the move aligns with a broader strategic aim to simplify the business and concentrate on higher-margin, higher-growth specialty markets where Synthomer holds leadership positions.
Synthomer's chief executive, Michael Willome, said the sale represents another step in simplifying operations and sharpening the company’s focus on specialty chemicals. He noted that Mutares, which invests in industrial turnarounds, is well positioned to support the Acrylate Monomers business in its further development.
The transaction preserves the existing supply relationships between the Sokolov site and other Synthomer group companies, ensuring continuity for downstream operations that rely on acrylic monomers and dispersions produced at the facility.
Background details
- The Sokolov plant supplies acrylic acid and related monomers to the European merchant market.
- The site employs approximately 300 people and also supplies internal group operations.
- The Acrylate Monomers unit was identified as non-core in an October 2022 strategic review and is the only remaining upstream business within Synthomer.