Clearwater leads US chemical deal
The Birmingham office of corporate finance company Clearwater has advised Unilever Ventures on the sale of its portfolio company Rahu Catalytics.
The firm led the deal through which Nottingham's Rahu Catalytics was purchased by Ohio, US-based OM Group.
Venture capitalist Unilever Ventures sold the company to the global solutions provider for an undisclosed sum.
RahuCat is the developer behind an iron-ligand chemistry for use in environmentally-friendly coatings, composites and inks.
It was established in 2006 after completing a spin-out from Unilever Group with backing from its venture capital unit, Unilever Ventures.
The deal was led by Clearwater Corporate Finance’s chemicals team, Philip Nuttall, Constantine Biller and Nick Horrocks.
Chemicals partner Biller said: "The deal is great news for Unilever Ventures and RahuCat Management, who together have successfully nurtured Rahu as the company and commercialized its unique iron-ligand technology.
"For OM Group the acquisition is significant as it will allow it to reinforce its Borchi OXY-Coat product line for the global coatings industry."
