Swiss Arxada to Merge with Troy

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Swiss Arxada to Merge with Troy
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Lubricants and biocides manufacturer Arxada and Troy, a producer of metalworking fluid biocides, will merge their businesses, expanding the manufacturing and product portfolios of both businesses, the companies announced last week.

Arxada, formerly known as Lonza Specialty Ingredients and based in Basel, Switzerland, makes biocides, corrosion inhibitors, lubricants and specialty additives for lubricants and metalworking fluids under its Microbial Control Solutions umbrella.

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Troy – based in Florham Park, New Jersey, United States – manufactures a number of biocides and defoamers for use in metalworking fluids and synthetic metalworking fluids.

Biocide additives, also known as antimicrobial pesticides, biocidal substances or microbiocides, are effective at prolonging fluid performance life.

 “The combination of Arxada and Troy will reinforce our position as a leading global provider of microbial control solutions,” Arxada CEO Marc Doyle said in a Nov. 3 news release. “Our decision to merge with Troy just four months after our launch as an independent company highlights our ambition and commitment to creating the broadest and most innovative solutions for our customers in this sector.”

Formerly LSI, the business rebranded last month following its launch as an independent company in July after it was sold by Lonza Group. Arxada is owned by Bain Capital and Cinven. In 2011, Lonza acquired fellow biocides manufacturer Arch Chemicals for $1.4 billion.b

Arxada runs several production plants in Visp, Switzerland, though the merger will help expand its capacity. “The proposed transaction will enhance Arxada’s commercial presence across the globe and add several production sites in important locations, including Newark, New Jersey; Horhausen, Germany; Moerdijk, Netherlands, and Kabin Buri, Thailand,” the company said.

“The combination of Troy’s strength in architectural coatings and industrial preservation, leadership in IPBC technology and broad range of performance additives perfectly complements Arxada’s strengths in wet state preservation,” said Daryl Smith, president and CEO of Troy. “The joining of the companies will deliver significant added value to our customers going forward.” The companies will close the transaction as soon as possible, subject to regulatory approval. Financial details of the merger have not been disclosed.