Arxada, the newly rebranded company that was spun out from Lonza, has formed an agreement to merge with Troy Corporation, a specialist in microbial control and performance additives based in New Jersey
Arxada, the newly rebranded company that was spun out from Lonza, has formed an agreement to merge with Troy Corporation, a specialist in microbial control and performance additives based in Florham Park, New Jersey. Financial terms were not disclosed.
As part of the deal structure, Troy’s owners will invest in the combined company, which will be majority-owned by private equity funds Bain Capital and Cinven. Both firms are active in microbial control across a wide range of industries, including personal care.
Arxada described this as “a logical next step” in enhancing the capabilities of its Microbial Control Solutions business. The merger would also bring it additional sites at Newark, New Jersey; Horhausen, Germany; Moerdijk, Netherlands; and Kabinburi, Thailand.
Basel-based LSI, the former Lonza Specialty Ingredients, took the name Arxada as of 21 October. It had been launched as an independent business in July after being sold by Lonza under CEO Marc Doyle (pictured).
The name is a combination of the Latin words for ‘citadel’ and ‘fortress’. “In the same way that a citadel acts as a stronghold or protector, Arxada provides solutions that strengthen the performance of its customers and their products, and help to protect people, places and the planet,” the company claimed.
For more information, please visit: troycorp.com
