Benvic acquired the American company Chemres, a supplier of polymers, custom compounds and solutions for a variety of industries, including medical, packaging, wire and cable.
Based in Princeton, New Jersey and headquartered in Chesapeake, Virginia, Chemres is a specialist preparer with a strong position in the US contact lens market and also maintains long-term customer relationships in the medical, wire and cable and of the packaging. The company’s expertise in customer service, logistics and supply chain management.
The combination with Chemres will allow Benvic to enter the US market and strengthen its exposure to the medical sector, with the aim of making Benvic a key global supplier in this market. Benvic will combine its experience in providing highly innovative solutions with Chemres’ expertise in the North American market and its strong portfolio of clients.
The acquisition of Chemres is the ninth “complementary” acquisition since Benvic joined the Investindustrial portfolio in 2018. Among others, in 2019, Benvic acquired Modenplast Medical, an Italian compounder, specializing in medical grade vinyl compounds and tube extrusion. This was followed in 2020 with the acquisition of Luc & Bel, an Italian manufacturer specializing in the design and manufacture of medical device components, and in 2021 with the acquisition of selected TPE and PP compounding assets from Celanese.
The Chemres management team, led by Chemres founder Paul Keimig, partners with Benvic to lead Benvic’s growth in North America.
Luc Mertens, CEO of Benvic Group, said: “Like Benvic, Chemres is one of the most successful in the compounding industry; outperforming competitors in terms of growth, quality and customer satisfaction. Our common culture of performance and innovation will allow us to develop new commercial and technical synergies and will offer us an exciting strategic opportunity in the American market. We look forward to working closely with the Chemres management team in the coming years to expand our operations in North America and develop our expertise in polymers in all sectors and particularly in the medical sector. This acquisition is an important step for Benvic to become a world leader in compounding. ”
Paul Keimig, CEO of Chemres, added: “Chemres is delighted to partner with Benvic to accelerate our growth and add value to our customers. Benvic’s proven success in similar markets and the desire to use Chemres to develop its portfolio in the US market has been essential in our decision-making process. With Benvic’s vision to be the world leader, Chemres will accelerate its growth through organic and complementary acquisitions in the US market. Together, the Benvic Group, via Chemres, will have unparalleled global capabilities in the world of composition.“