Specialty chemical company Clariant has completed the sale of its Healthcare Packaging business. The division was sold to newly-formed investment arm of Arsenal Capital Partners.
Announced by the Switzerland-based company in July this year, the deal was concluded at the end of October.
“The divestment of the Healthcare Packaging business is the first step of our announced strategy to become a more focused and innovative specialty chemical company,” said Hariolf Kottmann, executive chairman of Clariant.
The Healthcare Packaging division was sold for approx. CHF308m, which is reported to be equivalent to 13.2 times adjusted full-year EBITDA.
Established in 2000, Arsenal Capital Partners is a New York-based private equity firm which focuses on specialty and healthcare businesses.