NEW YORK--(EON: Enhanced Online News)--The Valence Group has advised Arsenal Capital on the sale to BASF of Novolyte, a leading global producer of electrolyte materials for lithium batteries and high-performance solvents. The sale includes Novolyte's joint venture with Foosung, a leading global fluorine chemistry company and high purity lithium salts producer based in South Korea. The terms of the transaction were not disclosed.
Novolyte is a leading manufacturer of specialty electrolyte materials, high performance solvents, aryl phosphorus derivatives and technically demanding custom manufactured products. The Company's energy storage products include electrolytes and materials used for lithium batteries, ultracapacitors and other energy storage devices.
These products are an integral part of lithium batteries for hybrid electric (HEV) and electric vehicles, as well as for high-end portable electronic devices. The Company’s performance solvent products include glymes, acetals, aprotic ethers, and green and specialty solvents. These solvents are used in a broad range of applications from cancer treatment drugs to specialized processes such as gold recovery. Novolyte has two state-of-the-art manufacturing plants in Baton Rouge, Louisiana and Suzhou, China.
About The Valence Group
The Valence Group is a specialist investment bank offering M&A advisory services exclusively to companies and investors in the chemicals, materials and related sectors. The Valence Group team includes a unique combination of professionals with backgrounds in investment banking, strategic consulting and senior management within the chemicals and materials industries, all focused exclusively on providing M&A advisory services to the chemicals and materials sector. The senior members of The Valence Group have collectively more than 350 years of experience, and have advised on more than 200 closed transactions valued cumulatively at over $85 billion and spanning more than 80 different chemicals/materials subsectors. The firm's offices are located in New York, London and Shanghai.