Polyscope Polymers recently finalized its integration of Total/Cray Valley’s SMA business. This business deal positions Polyscope as the world leader in development and supply of SMA copolymers. Through its Limburg Ventures fund, Brightlands Venture Partners has been an investor in the company since its inception in 2006.
Brightlands Venture Partners Sells its Stake in Polyscope Polymers
As part of the Polyscope/Cray Valley transaction, Limburg Ventures sold its minority stake back to the company. SMA is used as an engineering plastic in automotive interiors and car roof frames but is also used in the form of liquid adhesive resins in various industrial applications such as inks, paper and printed circuit boards. For Limburg Ventures, the sale marks another success in scaling up companies to become global leaders.
Polyscope Polymers was incorporated in Geleen (Netherlands) in 2006. The company revamped and took back into operation a mothballed production plant that was built by Royal DSM in the 1990s. Its initial primary customers were automotive OEMs, which were hit hard by the credit crisis.
Nevertheless, Polyscope was successful in conquering markets and developing new products, including a product line of low molecular weight resins and products for new applications.
Integration of Total/Cray Valley’s SMA Business
Through its recent integration of Total/Cray Valley’s SMA business, Polyscope has expanded its range of products, applications and markets, and expects to continue growing in the coming years. In the course of the Polyscope – Total/Cray Valley transaction, Limburg Ventures realized its exit by selling its minority stake back to the company. The transaction was financed by the company with help of Rabobank and a vendor loan.
Patrick Muezers, CEO of Polyscope:
“The support of Limburg Ventures has been substantial along the different development stages of our company, all the way to global market leadership. As a founding partner, Limburg Ventures supported Polyscope with professionals from their direct network, next to the financial means to get started in a complex chemical and polymer environment. As a long-term shareholder they have proven to successfully raise the capital needed and have blended in seamlessly with management support upon request. More a strategic partner than an equity fund in their management style and approach.”
Casper Bruens, Director at Limburg Ventures says:
“It has been quite an adventure. Starting with a mothballed plant and limited resources. Managing to get through the credit crisis and becoming a profitable company strong enough execute this business deal. This was achieved by a wonderful entrepreneurial team and active co-investors. It is another example of how a non-strategic corporate activity can become successful with the help of resourceful financing and entrepreneurship.”
Brightlands Venture Partners is the fund manager of Limburg Ventures and is an ecosystem investor. It invests in companies benefiting from and contributing to the Brightlands campuses in the south of the Netherlands. Limburg Ventures was its first fund, launched in 2004; it is now in its exit phase.
Source: Brightlands Venture Partners