Bain Capital has bought IMCD for an estimated €650m, taking the Dutch chemicals distributor from AAC Capital Partners in a pass-the-parcel deal.
The sale follows bidding rounds in which Cinven and New Mountain Capital are said to have competed for the Rotterdam-based business.
IMCD is active in over 34 countries including Australia, New Zealand and more recently in South Africa, India, China and Malaysia through organic growth, as well as over ten add-on acquisitions.
The company markets, sells and distributes chemicals, and food and pharmaceutical ingredients used in household products such as paint and cosmetics.
UBS served as the sole financial adviser to AAC and IMCD on the transaction.
Bain Capital has been active in the chemicals space already. In 2006, the buyout house sold German chemicals distribution group Brenntag to BC Partners for €3bn.