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The speciality chemicals group Altana has entered into an agreement to acquire the Silberline Group.
The US company specialises in developing and manufacturing effect pigments utilised in various applications, ranging from automotive coatings and printing inks to plastics, protective coatings and packaged consumer goods.
“The acquisition is further proof that we are sustainably implementing our strategy of generating value-creating growth through targeted acquisitions,” says Martin Babilas, CEO of Altana AG. With the move, Altana is strategically expanding its Eckart division and strengthening its regional presence, particularly in North America and Asia.
“The local research and production capacities of Silberline and Eckart complement each other perfectly. The merger will enhance our ability to respond flexibly to regional customer needs and further optimise our service quality,” explains Dr. Christian Przybyla, President of Eckart.
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Gary Karnish, CEO of Silberline, said: “The acquisition of Silberline by Eckart creates new potential. Together, we can more intensively drive the development of sustainable product innovations, benefiting both customers and employees.”
Silberline, headquartered in Tamaqua, Pennsylvania, was founded in 1945 and currently employs over 450 people globally. In 2022, the company achieved sales of approximately US80M.
The completion of the transaction is still subject to customary closing conditions and both parties have agreed not to disclose the purchase price. Grace Matthews served as exclusive advisor to Silberline.
