BASF (U.S. office in Florham Park) has completed the divestiture of its PolyAd Services business to Edgewater Capital Partners, LP, a private equity firm based in Cleveland, Ohio. The latter has plans to further grow PolyAd Services, building on the expertise of the team. PolyAd provides both additives and formulation services. Their forte are innovative specialty blends and services to solve additive incorporation problems for the plastics compounding and processing industry globally.
Meawhile, BASF officials says the company will now increase focus on its core plastic additives business areas: light stabilizers, antioxidants and customer specific blends. “The sale of PolyAd Services strengthens our ability to better serve the global market as the leader of plastic additives worldwide,” says Diego Lopez Casanello, sr. v.p., performance chemicals North America.