THE WHAT? Specialty chemicals business Arxada has announced it is to combine with Troy Corporation, a leader in microbial control solutions and performance additives.
THE DETAILS The agreement is the first strategic deal by Arxada following its purchase from Lonza Group in 2021.
With the combination said to create a comprehensive and innovative offering in microbial control, it will enable the delivery of ‘new solutions and value-added services to customers.’
According to a press release, “Arxada will benefit from Troy’s technical expertise, trusted customer relationships and broad portfolio of performance products as well as a long history of innovation, including the invention of 3-iodo propynyl butyl carbamate (IPBC), which Arxada does not currently manufacture.”
Troy’s owners will invest in the combined company as part of the deal structure.
THE WHY? Combining the two companies is said to be the next step in Arxada’s strategy to strengthen its offering and enhance the capabilities of its Microbial Control Solutions (‘MCS’) business.
Marc Doyle, Chief Executive Officer of Arxada, said, “The combination of Arxada and Troy will reinforce our position as a leading global provider of microbial control solutions. Our decision to merge with Troy just four months after our launch as an independent company highlights our ambition and commitment to creating the broadest and most innovative solutions for our customers in this sector.
“The combination also fits with our strategy of expanding our geographic footprint and the scale and depth of our capabilities by bolstering our manufacturing capacity in MCS beyond North America into Europe and Asia.
“We look forward to welcoming our new colleagues at Troy so that, together, we can build on our combined expertise in microbial control to deliver innovative, sustainable solutions for all of our customers. We remain committed to working closely with our customers to make sure we continue to meet their needs and ensure a smooth transition once the deal is complete.”