The engineering materials business combining parts of Lanxess A.G. and Royal DSM N.V. has a new name: Envalior.
Officials with the firm in Duesseldorf, Germany, unveiled the new name in an April 3 news release. Envalior has annual sales of around $4.35 billion and employs about 4,000 worldwide.
Envalior "ranks among the top engineering materials companies globally," officials added. The firm includes businesses from DSM Engineering Materials and Lanxess High Performance Materials. It is owned by Cologne, Germany-based Lanxess and global private equity firm Advent International of Boston.
According to the release, Envalior "will offer its customers a portfolio of leading product brands and recycled and bio-based materials, combined with deep application and materials expertise." The firm will serve numerous industries, including automotive, electronics and electrical, and consumer goods.
Lanxess and Advent acquired the DSM businesses for almost $4 billion in a deal announced in May 2022.