Oxea
Country: Germany
Region: Nordrhein-Westfalen
Investors: Advent International
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.
Martina Flöel
Managing Director - Oxea
Under private equity ownership, we have successfully diversified Oxea’s activities by investing in expanded capacity in both mature and emerging markets. As a result, we have established a competitive business which generates strong sales and earnings growth.
60%
increase in sales to €1.5bn
250
new jobs created
What did the business need?
Expertise to acquire and merge two non-core divisions into one company with a defined identity
Capital to expand into new markets, including Asia
An improved and optimised product portfolio
How did private equity backing create lasting value?
Created a new brand identity with involvement of Oxea staff
Invested over €250m to help Oxea grow, including acquiring a production plant in the Netherlands.
Increased capacity, modernised and built new product facilities at Oberhausen and Marl sites
Expanded presence in mature markets such as the US and emerging markets
Opened Oxea’s first production site in China to serve the Asian market
Expanded product portfolio, notably in high-margin specialities
What outcomes did private equity investment achieve?
Built number 1 global oxo merchant and a leading manufacturer of oxo products and derivatives.
Increased sales by 60% to more than €1.5bn and trebled EBITDA
Created 250 new jobs across Europe, the Americas and Asia, taking total employment to 1,500
Improved innovation with 10 new products launched
Created differentiated portfolio for a diversified customer base and various end-market applications.
Investors
