Lone Star Funds (“Lone Star”) today announced that an affiliate of Lone Star Fund XII, L.P. has completed the acquisition of DOMO Engineered Materials (“DOMO EM”), a business division of DOMO Group.
DOMO EM is a global leader in the development and production of polyamide-based engineered materials and its leading TECHNYL® brand supports a wide range of high-performance applications in the automotive, electrical and electronics, building and construction, consumer goods and industrial sectors.
The acquisition of DOMO EM follows the completion of Lone Star’s acquisition of RadiciGroup, with its High Performance Polymers and Specialty Chemicals business areas. The DOMO EM and RadiciGroup businesses will be combined and will then benefit from a broad and complementary product portfolio, expanded geographic reach and enhanced capabilities, providing the platform with industrial resiliency and new growth opportunities.
“We are pleased to have completed the acquisition of DOMO EM and believe that, together with RadiciGroup, the company will be well-positioned with broad development, manufacturing and technological capabilities. Following Lone Star’s investment, the business will focus on enhancing its offering while continuing to deliver best-in-class, innovative products for customers in key end-markets,” said Donald Quintin, Chief Executive Officer of Lone Star.
Source: businesswire.com
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