Dallas — Schiphol, Netherlands-based AOC Resins is getting a new private equity owner.
CVC Capital Partners announced July 15 that it will sell the maker of unsaturated polyester resins, vinyl ester and other materials to an affiliate of Dallas-based Lone Star Funds.
No details of the acquisition were released.
"Lone Star recognizes AOC's role as a trusted partner to thousands of customers across the globe seeking to optimize the critical performance attributes of their products," Donald Quintin, president of Lone Star's Opportunity Funds, said in a news release. "AOC aligns well with Lone Star's portfolio of specialty chemical and manufacturing businesses, which have adopted similar approaches to value-add product delivery. We look forward to the envisaged partnership with the AOC team as the company continues to execute its growth strategy."
Lone Star is a large but very private fund with holdings across a range of markets from property and insurance to manufacturing. Founded in 1995, Lone Star has 21 private equity funds with capital commitments of about $85 billion.
CVC acquired AOC in 2018 as part of its purchase of Alpha Corp. of Tennessee Inc.