Astorg announces agreement to sell iGM Resins to Jiuri-led consortium
Combination will create a global energy-curing solutions platform, bringing together complementary capabilities to accelerate innovation
Luxembourg, 10th November 2026 — Astorg, a leading pan-European private equity firm, today announced that it has signed an agreement to sell iGM Resins (“the Company”), a leading global provider of energy-curing raw material solutions, to Tianjin Guangyao Technology Co., Ltd., a consortium led by Tianjin Jiuri New Materials (“Jiuri”). The transaction marks the next chapter in iGM Resins' development, with the combination creating a global energy-curing solutions platform.
Headquartered in Waalwijk, the Netherlands, iGM Resins develops and manufactures specialty materials for the global energy-curing industry, including photoinitiators, oligomers, monomers and additives. With manufacturing facilities in Europe and Asia, supported by technical laboratories and application expertise, the Company serves customers across a range of industries, including coatings, printing inks, adhesives and advanced materials.
Since acquiring the Company in 2018, Astorg has worked closely with iGM Resins’ management team to bolster its strategic positioning, enhance operational efficiency, invest in innovation and expand its commercial capabilities. In response to challenging conditions across the European chemicals industry in 2022 and 2023, Astorg worked alongside current management to execute a major operational turnaround, strengthening the business and laying the foundations for its next phase of growth.
This combination with Jiuri will enable iGM Resins to capitalize on this progress, bringing together the Company’s specialty technologies, application expertise and international customer relationships with Jiuri’s photoinitiator product and technology strengths, process development capabilities, industrialization capabilities, and broad reach in China and other key international markets.
With growing demand for advanced materials in applications such as electronics, optics and 3D printing, the companies aim to integrate their expertise in materials development, application testing and manufacturing to accelerate iterative and technological innovation and deliver new energy-curing solutions to customers worldwide, further advancing UV-curing technology.
“We are proud of the progress we have made alongside Boudewijn Morelissen and the iGM Resins team, executing a significant operational turnaround through a challenging period for the European chemicals industry, strengthening the business and better positioning it for long-term success. We are confident that the Jiuri-led consortium is the right strategic partner to build on this progress and support iGM Resins' future ambitions, and wish Boudewijn and the team every success in this next chapter.”
“I would like to thank Astorg for its support and commitment throughout our partnership. Together, we have made significant progress in transforming iGM Resins, broadening our product offering, investing in new technologies and extending our reach into key international markets. As our customers’ performance and sustainability requirements continue to evolve, this strong combination with Jiuri will, through product supply, technical services and collaborative development, comprehensively help us better serve customers globally. Our focus remains on being the partner of choice for our customers and delivering innovative solutions, from new product supply and formulation development through to commercial production.”
TRANSACTION DETAILS
The transaction remains subject to customary closing conditions and regulatory approvals, with completion expected in the first quarter of 2027. Financial terms of the transaction were not disclosed.
Astorg
Astorg is a leading pan-European private equity firm with over €24 billion of assets under management. Astorg is a multi-specialist investor with deep expertise in healthcare, technology and business services. Within healthcare, Astorg concentrates on a narrow set of subsectors: pharmaceutical services and technology, MedTech and MedTech services, life science tools, and diagnostics. Enjoying a distinct entrepreneurial culture, an engaged shareholder perspective and a lean decision-making body, Astorg works with founders, entrepreneurs and management teams to acquire premium international B2B businesses, providing them with strategic guidance, governance and capital to enhance their strategic positioning and achieve their financial objectives. Headquartered in Luxembourg, Astorg has offices in London, Paris, New York, Frankfurt, and Milan.
For more information about Astorg: www.astorg.com | Follow Astorg on LinkedIn
iGM Resins
iGM Resins develops, manufactures and supplies photoinitiators, energy-curing oligomers and monomers, additives and technical services for the global energy-curing coatings, inks and advanced materials market. Its manufacturing facilities in Europe and Asia are supported by technical laboratories providing application expertise and product development support.
For additional information, visit www.iGMresins.com.
Tianjin Jiuri
Founded in 1998 and headquartered in Tianjin, China, Tianjin Jiuri New Materials Co., Ltd. develops, manufactures and supplies photoinitiators and other UV-curable materials for coatings, inks, adhesives, 3D printing and composites worldwide. It also produces photosensitive materials for semiconductor and display applications, including photoresists and photosensitizers.
Jiuri is listed on the Shanghai Stock Exchange’s STAR Market (stock code: 688199).
For additional information, visit en.jiuri.com.cn.
Further Information
Delivering consistent performance
across every investment
Morgan Garinet
Email: marketing@igmresins.com
Telephone: +31 416 316 657
Investor Relations / Office of the Board Secretary
Email: jiuri@jiuri.com.cn
Telephone: +86 22 5833 0799
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