Oxea is a leading global producer of oxo chemicals and its derivatives.
In 2007, Advent International acquired the US and European oxo chemicals activities of Celanese and Evonik, creating Oxea.
Key to our investment thesis was helping the management team create a strong and successful business by further developing the company’s technology base, using its marketing, sales and supply chain expertise and instilling a sense of ownership across the company. Management started new growth initiatives by developing new products and production processes and expanding its marketing activities into new geographies. These activities enabled the company to transition the product portfolio into higher marking specialties, extend the value chain and broaden the application basis and end markets.
Advent partnered with Oxea’s management team to streamline the business, using our global expertise to support management’s analysis of opportunities to create a sound and manageable foundation for reliable and profitable long-term growth. The focused expansion of Oxea’s product portfolio, particularly in the high-margin oxo derivatives area, allowed the company to achieve record revenues.
Now, with over 1,400 employees, five production plants across Europe and the US, and sales offices in Asia and Latin America, Oxea is a world-class business with a broad customer base.
In December 2013, we sold Oxea to the Oman Oil Company, well-positioned to begin the next phase of its corporate development.