Evonik has successfully concluded the sale of its superabsorbents business unit to the International Chemical Investors Group (ICIG). The closing of the transaction took place on August 31, 2024, following approval by the competition authorities. Superabsorbents are powdered polymers that serve as absorbent materials in diapers and other hygiene products. The division generated revenue of €892 million in 2023 and has around 1,000 employees. It includes three locations in Germany and two in the United States.
The unit is the second of a total of three parts of the Performance Materials division that Evonik has put up for sale. Following the divestment of the Lulsdorf site and its associated businesses (also to ICIG) and the sale of the superabsorbent unit, the Performance Intermediates business line will remain. Here, Evonik is sounding out the market situation for a possible start of the sales process.
“We want to clearly focus our portfolio on high-margin businesses with low fluctuations that drive the green transformation of the economy, we are consistently pursuing this path without losing sight of the well-being of the employees.”
Christian Kullmann, Chairman of the Executive Board of Evonik.
ICIG is an experienced chemical investor based in Frankfurt am Main. Together with the superabsorbent activities, the Group now generates annual sales of well over €4 billion at around 50 locations worldwide and with more than 7,800 employees.
“We are pleased to now include superabsorbents as a new platform in ICIG and warmly welcome all employees, the acquisition is part of our expansion course, which we will continue to pursue through internal and external growth.”
Dr. Achim Riemann, Chairman of the Supervisory Board of ICIG.
Evonik operates in a diverse range of sectors, including chemicals, materials, and life sciences. The company is known for its innovation in high-performance materials and cutting-edge technologies, which are utilized in industries such as automotive, electronics, agriculture, and pharmaceuticals. Evonik’s product portfolio includes specialty additives, catalysts, and polymers, as well as solutions for health care and nutrition. The company emphasizes sustainability, aiming to create products and processes that contribute to a more sustainable future. With operations in over 100 countries, Evonik employs a global workforce committed to research and development, enabling it to stay at the forefront of the specialty chemicals industry. The company’s strong focus on innovation, sustainability, and market leadership positions it as a key player in shaping the future of chemistry and materials science.