Jiuri New Materials（久日新材）said on November 10 that it and six co-investors plan to acquire the Dutch holding company behind photoinitiator producer IGM Resins. The transaction has an estimated total purchase price of approximately EUR 251 million, including refinancing and deferred consideration.
The investors plan to increase the capital of Tianjin Guangju Technology（天津光聚科技）to CNY 800 million. Jiuri will subscribe CNY 350 million and hold a 43.75% stake in the vehicle after the capital increase. Guangju plans to acquire 100% of Ignition New Midco B.V., the holding company behind IGM, through related subsidiaries.
The agreement sets a nominal purchase price of EUR 1 for the shares. The broader transaction also includes EUR 225 million in refinancing at closing and EUR 26 million in deferred consideration. Following completion, Jiuri would indirectly hold 43.75% of IGM, which would be accounted for outside its consolidated financial statements.
IGM produces photoinitiators and other materials used in UV-curing applications. Its operations include manufacturing facilities in Italy and China, research activities in Milan, and sales and operations in the Netherlands.
The transaction requires shareholder approval and relevant Chinese outbound investment procedures. For Jiuri, the investment would provide access to IGM’s products, intellectual property and international customer network.
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