When Advent acquired the US and European oxo chemicals (alcohols used in paints, lubricants and cosmetics) divisions of Celanese and Evonik it saw the opportunity to create a global market leader in oxo intermediates and oxo derivatives. Oxea was formed in 2007, and over the next six years, Advent worked with the management team to improve technology, sales, marketing and supply chain management. At the heart of the drive was a focus on product optimisation, new products and production processes, as well as expansion into new geographies. This helped move the company's product range into higher-margin specialities and broaden their application and end markets. The Oman Oil Company acquired Oxea in 2013, with plans to accelerate the company’s expansion in Asia.
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