World leading producer of CMC
At the time of exiting, Noviant, formerly MSC Metsa Specialty Chemicals, was the global market leader in the development and production of carboxymethyl cellulose (“CMC”).
CMC is a water soluble polymer, marketed for a large variety of applications including paper coating, food, pharmaceuticals, oil drilling and detergents. The material is used extensively in food formulations, such as dressings, ice creams, baked goods, puddings and sauces, to stabilise, thicken and bind.
Based in Finland, Noviant employed approximately 450 people.
In December 1996, Noviant was acquired from Metsä-Serla Corporation (today M-Real) via the IK 1994 Fund. It was subsequently sold to the J.M. Huber Corporation in July 2001, and it now operates under CP Kelco, another portfolio company of the Corporation.
Our Value Creation Strategy
During our ownership, we worked alongside the management team to:
- Develop new application areas for CMC;
- Increase capacity substantially; and
- Further strengthen cost and market leadership position.