Cosco sells its European polyurethane systems business to H.I.G. Capital.

Cosco recently completed the sale of its European polyurethane system materials business to H.I.G. Capital. The deal is worth close to 100 million euros. European errors include multiple installations in the Netherlands, Denmark, Spain, Germany and other businesses in Italy

. The division has approximately 250 employees and annual sales of EUR 230 million. The sale of the system materials business helps Cosco further optimize its portfolio.
system materials business unit can provide customers with customized polyurethane system materials. With H.I.G. Capital becoming a new shareholder, the European Polyurethane Systems Business Unit plans to position itself as an independent and professional supplier of polyurethane system materials dedicated to serving medium-sized customers. At the same time, the business unit will be renamed Plixxent as a new business unit.
disclosed plans to sell the unit in early June, saying it would allow the company to focus on future growth and value creation.
Chief Financial Officer Thomas Toepfer said: "Our Systems Business Unit can provide customized solutions to meet market needs. However, in a mature polyurethane market like Europe, we want to focus on a more segmented market to effectively meet the needs of our customers. As
a major supplier of polyurethanes, Cosco Will continue to maintain close contact with the system materials business unit.
HIG adopted an "acquisition and construction" investment strategy, mainly to acquire other small and medium-sized businesses.
said it intends to further expand its pan-European operations and will create a strong and independent European polyurethane systems division, with a focus on midscades customers.
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