Specialty chemical company Clariant has completed the sale of its health care packaging business to Arsenal Capital Partners, a leading private equity firm investing in specialty industrials and healthcare companies. The company will be rebranded as Airnov Healthcare Packaging.
Matthias Brommer, who headed the business under Clariant, will become president and managing director of Airnov.
The company will continue to manufacture barrier packaging for pharmaceutical, nutraceutical and diagnostic products. This includes customizable, high-quality drop-in products such as canisters and packets, integrated desiccant systems and specially designed plastic bottles containing oxygen barrier materials. The business has manufacturing facilities in France, the U.S., China, and India and employs around 600 people.
Tim Zappala, a senior partner at Arsenal noted that Clariant had successfully elevated the business’s strategic importance to its markets. “We hope to continue the same leadership as owners of Airnov, leveraging both our capabilities and leading franchises in advanced materials and healthcare,” he said.
“The divestment of the Healthcare Packaging business is the first step of our announced strategy to become a more focused and innovative specialty chemical company,” Clariant CEO Hariolf Kottmann said.