SYNTHOMER acquired by Mutares

Mutares SE & Co. KGaA completed the acquisition of Synthomer a.s. from Synthomer plc in a carve-out transaction announced on September 30, 2026. The acquired business operates an acrylic solutions production facility in Sokolov, Czech Republic, and employs approximately 300 people. Mutares acquired the operation as a new platform investment within its Chemicals & Materials segment, expanding its industrial chemicals portfolio. Synthomer a.s. generated revenue of €110m in 2025 on a carve-out basis. The transaction was structured without an upfront cash payment. Instead, Synthomer plc remained eligible to receive up to € 12 million in consideration through a mechanism linked to future cash generation over a three-year period. The business operates in cyclical, capital-intensive markets and requires average annual capital expenditure of approximately € 5 million. It recorded an adjusted EBITDA loss of € 10 million in 2025 before returning to break-even in early 2026. Following completion, Synthomer a.s. continued to supply acrylic raw materials and dispersions to Synthomer plc under supply arrangements designed to maintain continuity for the seller's downstream manufacturing operations. The carve-out therefore separated ownership of the Czech production business while preserving an ongoing commercial relationship between the two companies. The disposal represented Synthomer plc's exit from its remaining upstream base chemicals business and supported its strategy of concentrating on higher-value speciality chemicals markets. Before the transaction, the Czech operation formed part of Synthomer's Acrylate Monomers business. The sale transferred the Sokolov facility and its associated operations to Mutares, which intended to develop the business as part of its Chemicals & Materials portfolio.