From left to right: Aaron Davenport, MD of SK Capital Partners; and Christian Fischer,
president of BASF’s performance chemicals division

From left to right: Aaron Davenport, MD of SK Capital Partners; and Christian Fischer, president of BASF’s performance chemicals division

Specialty chemicals company Archroma has completed its acquisition of BASF's global textile chemicals business, which it says will help businesses prosper as the industry undergoes "transformational change".

The portfolio company of US-based private investment firm SK Capital Partners says the deal further solidifies its position as an industry leader in supplying chemicals and dyes to the global textile industry.

It also strategically complements Archroma’s product portfolio and geographical presence that will now include BASF’s strong market positions in Asia and other high-growth markets.

The BASF business delivers products and technologies across the entire textile chemicals spectrum, with particular strengths in printing, finishing and coating chemicals.

"The textile industry is undergoing transformational change resulting from macro supply and demand shifts as well as a growing customer demand for sustainably-oriented solutions," said Archroma CEO Alexander Wessels.

He added: "The operational and intellectual synergies between BASF and Archroma will allow us to offer our customers the full breadth and depth of innovation, quality, reliability, expertise and market coverage they need to prosper in these market conditions."

Around 225 employees will move from BASF to Archroma, of which 175 are in Asia. The combined textiles businesses will remain headquartered in Singapore, close to customers in Asia’s fast-growing textile markets - and say they will continue to maintain a strong commitment to innovation and sustainability.