Lanxess and Anhong Capital set up the joint venture Envalior Materials Company

Envalior, the world's leading engineering materials company, has announced its formal establishment. Envalior has a turnover of about 4 billion euros and a highly skilled and diverse workforce of about 4,000 people.

Envalior is the merger of two highly complementary engineering materials industry leaders -- DSM Engineering Materials (DEM) and Lanxess High Performance Materials (HPM), It was formed as a joint venture between global private equity firm Advent International and specialty chemicals company LANXESS.

Building on a century-old track record of customer-focused innovation, the new company Envalior is committed to offering its customers a unique portfolio of best-in-class product brands, including renewable and bio-based materials, with a strong global presence spanning Asia, Europe and the United States, combined with deep application and materials expertise. Envalior's high-performance solutions will enable the transformation of key industries, such as traditional automotive and new mobility, electronics and electrical, and consumer goods.

The Envalior brand encapsulates the ambitious corporate character of the new company, namely, driven by value and value creation, Envalior will fully carry forward the entrepreneurial spirit of active participation, innovation and enterprise, commitment to engineering excellence and emphasis on environmental friendliness.

Calum MacLean, Chief Executive Officer of Envalior, said, "The entire management of Envalior is excited to build on the impressive achievements of two great companies. Envalior's founding is something to be proud of. I would especially like to thank everyone at Envalior who has made this exciting milestone possible. As a premier supplier to many important industries, Envalior's product portfolio includes a number of recognized and well-known material brands. The convergence of two highly complementary businesses creates a true industry leader that will deliver growth and value to our customers, employees, shareholders and society."

Calum MacLean stressed that Envalior will continue to focus on sustainable solutions pioneered by DSM Engineering Materials (DEM) and Lanxess High Performance Materials (HPM) : "Keen to capture market dynamics and innovate to meet the sustainability needs of our customers. This is Envalior's legacy. We will uphold this advantage, highly collaborative, pioneering. Going forward, Envalior will continue to drive carbon efficiency and carbon cycle technologies in the industry with sustainable solutions to achieve sustainable development across the value chain."

"We are excited to support Envalior as the new industry leader," said Ronald Ayles, managing partner and global Head of chemicals at Advent International. In the specialty materials industry, Envalior has great potential for long-term sustainable growth. We look forward to working closely with Envalior's management and employees to strengthen its strong market position and achieve its growth objectives through continued investment."

Matthias Zachert, chief executive officer of LANXESS, said: "Through a joint venture approach, we have launched a global champion in high-performance polymers. With an eye on shaping the future of tuyere industries such as new mobility, Envalior has everything in place to take off. We will continue to support the development of Envalior."

As a trusted partner in the automotive industry, Envalior is comprised of three global business units, including: High Performance Materials, Specialty Materials and Intermediates. Envalior helps reduce carbon emissions by providing materials for lightweight solutions for vehicles, including structural components, as an alternative to metal. Envalior materials are used simultaneously in battery and charging systems, electronic control systems, power electronics and many other automotive applications, paving the way for the development of electric vehicles. Envalior's high-performance solutions are also widely used in the electrical and electronics industry, such as smartphone components and a variety of consumer products.