Kymera to buy Fiven from private equity group
US-headquartered Kymera International has signed an agreement to acquire Fiven ASA from Los Angeles-based global private equity firm OpenGate Capital.
The proposed deal will create a global chemicals giant. Kymera is a developer and manufacturer of advanced specialty materials and high-performance surface coatings. It has facilities in the US, Canada, Australia, Europe, UK and Asia.
Meanwhile Oslo-based Fiven manufactures silicon carbide grains and powders for industrial end markets such as metallurgy, refractories, abrasives, filtration, and technical ceramics. It has facilities in Norway, Belgium and Brazil, as well as a global distribution network.
Since 2018, Kymera has been owned by affiliates of Palladium Equity Partners LLC, a private equity firm with USD 3 billion in assets under management. The acquisition of Fiven is expected to close in third-quarter 2024 following customary regulatory approvals.
“Fiven has all of the strong attributes we look for in an acquisition. They have an excellent reputation for quality and service, are aligned with Kymera’s strategy of focusing on attractive end markets such as electronics, aerospace and defence, and have an outstanding management team and dedicated workforce,” said Kymera’s CEO Barton White.
