Ludwigshafen, Germany - BASF said 8 Jan 2013 that it will sell its Conica Sports Surfaces business together with its site in Schaffhausen, Switzerland to Munich-based Serafin Group.
Conica's business includes development, production and marketing of flooring systems for running tracks, sports halls, tennis courts and playgrounds as well as artificial turf solutions. It includes polyurethane binders for sports surfaces.
The German group announced in early 2012 that the business was up for sale, since, as a niche operation it was not part of the strategic focus of BASF.
Philipp Haindl, a managing director of Serafin, listed as key factors in the purchase decision the Conica brand's excellent reputation; the team's expertise;and its production capacities; as well as, "growth opportunities in an attractive market segment."
The transaction is expected to close by the end of the second quarter 2013, and the parties agreed not to disclose financial details.
"With the Serafin Group we found a new owner for Conica who aims to generate long-term profitable growth in the sports surfaces business," said Dr Tilman Krauch, head of BASF's Construction Chemicals division.
Serafin said it aims to use financial and personnel resources "to drive forward the future development of Conica, as well as generate additional growth in this segment through targeted investment."
At present, about 135 employees work at Schaffhausen. About 60 of these are in the sports surfaces business and will transfer to Serafin. The nine-strong international sales team will be offered roles with Conica.
BASF said production of industrial floorings, sealants and special polyurethane solutions on its behalf will continue in Schaffhausen for 18 months, but will subsequently be relocated to another BASF site. Some 40 people work in this field.
The 35 employees currently involved in other roles in industrial flooring, sealants and polyurethane solutions at Schaffhausen will be relocated to other BASF sites.
Serafin has more than 600 employees and total revenues of Euro 150 million ($196 million). The group was set up to build a diversified group of companies with a long-term focus on steady growth. Its strategy is to acquire companies across five industry segments, and it is currently active in two business segments of plastics and consumer goods.