Unilever Ventures (UV) has agreed to sell its stake in Rahu Catalytics Ltd to OM Group. Rahu Catalytics develops unique iron-ligand based chemistry for use in the rapidly growing environmentally friendly coatings, composites and inks markets. Terms of the transaction are not disclosed.
Since its founding in 2006, Rahu Catalytics has focused on the need for solutions that incorporate more renewable materials and deliver performance at lower energy, water and waste costs in the coatings industry. Since early 2009, the company has operated under an exclusive commercial agreement with OM Group with regards to its Borchi® OXY-Coat product line, which is being utilized by the market leaders in the global coatings industry.
UV invested in the business in 2003, after spinning the technology out from the Unilever Vlaardingen R&D facility in the Netherlands. John Coombs, a Rahu Catalytics Board member from Unilever Ventures said “We want to congratulate Paul Smith and the entire Rahu team for what they have achieved. We are delighted to have invested in such a fantastic company and we wish them every success in the future”
Formed in 2002, UV is the European venture capital arm of Unilever. UV has funds under management of euro 120M and a current portfolio of 17 businesses, originating both externally and from within Unilever. Wholly-owned and funded by its parent, UV operates as an independent VC Fund, and is regulated and authorized by the UK Financial Services Authority. UV typically invests in early stage technology driven B2C or B2B facing companies across Europe, seeking investments which could; i) become strategically relevant to Unilever, ii) benefit from access to Unilever’s IP assets and capabilities, or iii) provide high-value services to Unilever.
OM Group, Inc. is a leading global solutions provider of specialty chemicals, advanced materials, electrochemical energy storage, magnetic materials and unique technologies crucial to enabling our customers to meet increasingly stringent market and application requirements. The company serves a wide variety of sectors, including rechargeable batteries, electronic devices, cutting tools, petrochemical catalysts, electronics manufacturing, industrial coatings, defense, aerospace, medical devices, alternative energy, automotive, electrical installation, and energy conversion and distribution. Headquartered in Cleveland, Ohio, OM Group operates manufacturing facilities in the Americas, Europe, Asia and Africa.
-Ends-