Citic Capital Partners, the private equity arm of Citic Capital Holdings, has announced that it has agreed to sell 100% of the shares of Polymatech Group held by its fund to Sekisui Chemical and Inabata. 

Polymatech is a leading manufacturer of polymer parts with a speciality in polymer material compounding. Polymatech serves customers in different industries including automotive and consumer electronics.

Sukisui is a chemical company headquartered in Osaka Japan. Inabata, also headquartered in Japan, is a chemical trading company which has recently expanded its automotive business.

Under the new ownership structure, the three companies hope to benefit from synergies and enhanced value when putting together brands, technologies, customer base and sales network, material procurement capabilities and other managerial resources.

The completion of the sale is still subject to certain closing conditions and regulatory approvals.

Photo courtesy of Sekisui Chemical.