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The holding company Capmont has taken over Dyneon GmbH from 3M Deutschland GmbH as part of a carve-out-i.e. the strategic spin-off of a division from an existing company. The transaction takes place via the private equity strategy “Special Opportunities”, which is geared towards corporate spin-offs, restructuring and special situations with development potential.
Dyneon, based in the Gendorf Chemical Park, Bavaria, was founded in 1996 and was one of the world's leading manufacturers of high-performance fluoropolymers and specialty additives before the US group 3M withdrew from PFAS production. In the course of 3M's PFAS strategy, the company was most recently focused on the orderly cessation of production.
According to Capmont, Dyneon currently employs about 400 people and has a production capacity of 18,000 tons of fluoropolymers a year. The production plant in Gendorf is one of the technologically leading locations of its kind. Together with the regulation, the investor plans to gradually resume production. In the long term, the aim is to achieve an annual turnover of greater than 300 million euros and to expand the workforce to over 500 employees.
The fluoropolymers produced by Dyneon are utilized in demanding manufacturing applications, including semiconductor production, medical methodology, aerospace, batteries to electric vehicles and in the energy sector. Due to their high temperature and chemical resistance, their electrical insulation traits and their mechanical resilience, fluoropolymers are considered to be technically difficult to replace in numerous security and performance critical applications.
The global market volume to fluoropolymers is estimated at $8 billion to $9 billion. According to the company, demand is growing at an average annual rate of around four percent, especially due to its consumption in technologically demanding industries.
Capmont sees possible in Dyneon to a return to the international market. The company refers to the existing production capacities, the technical know-how and competencies in the field of recycling and circular regulation of special polymers.
According to its own information, Capmont manages fixed assets of greater than 1.5 billion euros and invests in small and medium-sized companies in Europe with a focus on the DACH region through various private equity strategies.
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