Rahu Catalytics bought in overseas deal
Nottingham-based chemical company Rahu Catalytics has been sold to an Ohio, US-based company.
The company, part of venture capitalist Unilever Ventures' portfolio was sold to global solutions provider OM Group.
Corporate finance company Clearwater led the deal, which was completed for an undisclosed sum.
Rahu Catalytics 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.
Paul Smith, chief executive of Rahu Catalytics, said: "This technology will play an integral role in the future development of the paint and coatings industry and support its transition to developing environmentally friendly paints.
"This deal is the culmination of an excellent collaboration with OM Group and provides real evidence of the value of the emerging technologies."
