London, UK – Polyol manufacturer OQ Chemicals has agreed a buy-out by Strategic Value Partners (SVP) and Blantyre Capital. Its name will revert to Oxea.
The manufacturer of oxo products, including intermediates and performance chemicals, has been known as OQ Chemicals since its integration into the newly formed energy company OQ in 2020. It had previously become part of the Oman Oil Company back in 2013. The company operates out of five production sites across North America, Europe and Asia, has 1.3MT of production capacity, and annual revenue of €1.4bn. It markets its chemicals in more than 60 countries.
SVP, a global investment company with approximately $22bn of assets under management, also owns flexible foam producer The Vita Group. Based in London, Blantyre has more than €2.7bn of long-term capital commitments.
“Oxea’s leading market positions, global reach, and innovation capabilities provide a solid foundation for long-term growth,” said HJ Woltery, co-head of the European investment team at SVP.
Mubashir Mukadam, chief investment officer at Blantyre Capital, added: “Oxea’s significant expertise in oxo chemicals, combined with its global footprint, presents ample opportunities for growth,” said Blantyre’s chief investment officer Mubashir Mukadam. “We look forward to supporting the company as it continues to expand its product offerings and enhance its strategic position in the industry.”
