Manufacturing and logistics group KAP Industrial Holdings (Stellenbosch / South Africa; www.kap.co.za) has acquired South African polymer producer Safripol (Bryanston; www.safripol.com) from Rockwood Private Equity (Gauteng / South Africa; www.rockwoodpe.co.za) and Thebe Investment (Johannesburg / South Africa; http://thebe.co.za) for ZAR 4.1 bn (EUR 272m).

Safripol operates in the chemical sector and produces complementary products to those of PET producer Hosaf (Durban), a KAP company, with a similar business model. The company said the acquisition is an ideal fit in terms of its key investment criteria and that Safripol will form part of its diversified chemical segment.

Safripol produces PP and HDPE used in the manufacture of a wide range of packaging and industrial end uses. The company was established in 1972 as a joint venture between Hoechst and Sentrachem. In 1997 it was purchased by Dow Chemical (Midland, Michigan / USA; www.dow.com) and was subsequently sold in 2007 to a South African consortium backed by ABSA Capital (see Plasteurope.com of 09.03.2007). Since then, Safripol has had a number of different investor owners. It presently employs over 250 workers in Sasolburg / South Africa with its commercial and technical teams at its headquarters in Bryanston / South Africa. Safripol generated post-tax profits of ZAR 488m in 2015.