Covestro (Leverkusen / Germany; www.covestro.com) has announced it has successfully completed the sale of its European Systems Houses business to US investment group H.I.G. Capital (Miami, Florida; www.higcapital.com) as of 1 November – see Plasteurope.com of 18.06.2019. The business, which comprises PU systems houses in Germany, the Netherlands, Denmark, Spain and others in Italy, will now trade under the name Plixxent (Oldenburg / Germany; www.plixxent.com).

Sale proceeds amounted to a euro sum in the "high double-digit" millions, Covestro said, adding that the divestment was part of ongoing efforts to optimise its portfolio. In the coming years, CEO Jörg Schottek told Plasteurope.com he would like to see Plixxent expand its presence across Europe, "both organically and with targeted acquisitions."