Unilever Ventures (UV) has agreed to sell its stake in Rahu Catalytics to OM Group.
Rahu Catalytics develops iron-ligand-based chemistry for use in the rapidly growing environmentally friendly coatings, composites and inks markets.
Terms of the transaction, in which Clearwater Corporate Finance advised UV, were not disclosed.
Since its founding in 2006, Rahu Catalytics has focused on the need for solutions that incorporate more renewable materials and deliver performance at lower energy, water and waste costs in the coatings industry.
Since early 2009, the company has operated under an exclusive commercial agreement with OM Group with regards to its Borchi OXY-Coat product line, which is reportedly being utilised by the market leaders in the global coatings industry.
UV invested in the business in 2003, after spinning the technology out from the Unilever Vlaardingen R&D facility in the Netherlands.