NEW YORK—Arsenal Capital Partners has signed a definitive agreement to sell its IGM Resins business to Astorg.
Based in Wallwijk, Netherlands, IGM is a global manufacturer of specialty photoinitiators, offering a full platform of complementary UV curable material solutions.
"We are pleased that Astorg has recognized IGM's value creation strategy and look forward to partnering with them to continue our focus on providing our customers new products and technologies across the product portfolio," IGM CEO Edward Frindt said in a statement. "Astorg has significant experience in the specialty chemical sector and a broad and experienced team, which will ensure a seamless transition."
Astorg is a European private equity firm with about $4.77 billion in total funds under management.