October 20, 2017
Peter Greven Group, a German manufacturer of oleochemical derivatives, has formed Norac Additives LLC and acquired the assets of the additives division of Norac, Inc. Murray Wise Capital LLC served as exclusive financial advisor to Norac, Inc.
Norac Additives has its headquarters and development lab in Pomona, California and a production site in Helena, Arkansas. The company specializes in the production and sale of various plastic additives, including metallic stearates, ester lubricants and PVC heat stabilizers, and possesses long-term application expertise within the plastic industry.
Peter Greven Group was founded in 1923 and has its headquarters in Bad Muenstereifel, Germany, with additional production sites in Venlo, The Netherlands and Penang, Malaysia (Joint Venture), as well as sales offices in Paris, France and Freehold, New Jersey. Peter Greven Group is well positioned internationally, with a broad product range containing metallic and alkali soaps as well as esters and dispersions. The company supplies customers in various industries worldwide. Through the formation of Norac Additives, the company's presence in the USA, as well as its position within the plastic industry worldwide, shall be strengthened and extended.
"With this very important acquisition, we feel that our international position within the metallic soaps and plastic additives sector is further improved. The US market is very interesting for us and we see there is still substantial growth potential for our group," Peter Greven, managing director of Peter Greven, said.
Norac Additives will remain an independent company after the transaction, but will be fully integrated into Peter Greven Group. In this context, the management board of Peter Greven has announced that all employees and the management team of Norac Additives will be retained.
Murray Wise Capital LLC, headquartered in Champaign, Illinois, is a leading national financial advisory firm, especially in agribusiness and commodity based product companies.
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