ALTANA Enters Agreement to Acquire Silberline Group

10 Jan 2024
www.coatingsworld.com
Acquisition
The specialty chemicals group ALTANA has entered into an agreement to acquire the Silberline Group. The U.S. company specializes in developing and manufacturing effect pigments utilized 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,” said Martin Babilas, CEO 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 optimize our service quality,” explained Dr. Christian Przybyla, President of ECKART. 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 more than 450 people globally. In 2022, the company achieved sales of approximately $80 million. 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.
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