Ingredient supplier Croda has announced the acquisition of IonPhasE, a technology supplier of static electricity protection products, for €24m.

Looking to develop its foothold into high technology consumer material markets, Croda purchased IonPhasE, based in Finland, due to its ‘unique range of anti-static additives that help to prevent damage to electrical components, increase the safety of chemical and food packaging and improve the long term appearance of consumer appliances.’

Maarten Heybroek, President Performance Technologies at Croda said: “This acquisition supports our growth strategy within high technology, consumer driven material markets. We are delighted that IonPhasE is bringing its industry leading knowledge in the rapidly growing market for Electrostatic Discharge Protection to Croda.
“The acquisition of IonPhasE presents a significant opportunity for us at Croda, with its differentiated and patented product range, operating in a niche, high value sector of the polymer market. The experience and knowledge of the IonPhasE management team, coupled with our innovation strength, global sales reach and complimentary technologies, will allow us to better meet the needs of our customers within our Smart Materials sector.”

Through the acquisition Croda aims to combine the expertise of both company’s research and development teams to offer a broader and more diverse range of products to its customers through its ‘its dedicated global marketing and sales force.’