OREANDA-NEWS. BASF has successfully closed the previously announced transaction to divest its PolyAd Services business unit to Edgewater Capital Partners, L.P., a private equity firm based in Cleveland, Ohio. Edgewater Capital Partners intends to further grow PolyAd Services building on the expertise of the team.

BASF will move forward with increasing focus on its core Plastic Additives business areas: light stabilizers, antioxidants and Customer Specific Blends (CSBs). "The sale of PolyAd Services strengthens our ability to better serve the global market as the leader of plastic additives worldwide," said Diego Lopez Casanello, Senior Vice President, Performance Chemicals North America.

BASF is a leading manufacturer, supplier and innovation partner of additives for the plastics industry such as ultraviolet (UV) light stabilizers, antioxidants and process stabilizers, and other additives.