Solenis LLC has signed an agreement to acquire shares in Nopco Holding AS and related subsidiaries, a niche supplier of specialty chemical solutions for the pulp and paper markets headquartered in Drammen, Norway.

Nopco produces defoamers, collecting agents, deposit control, lubricants and insolubilizers for the European pulp and paper, industrial and recycling markets. Nopco, with 110 employees, has sales of more than NOK 500 million (USD 60.8 million) mainly from Europe.

Nopco’s antifoam and de-inking products are complimentary to Solenis’ existing global portfolio of pulp and paper specialty chemical solutions.

“This is a unique opportunity to combine Nopco’s cutting edge technologies with Solenis’ strong global channel to market,” said John Panichella, president and CEO of Solenis.

Solenis is a leading global producer of specialty chemicals for the pulp, paper, oil and gas, chemical processing, mining, biorefining, power and municipal markets. The company’s product portfolio includes a broad array of process, functional and water treatment chemistries as well as state-of-the-art monitoring and control systems. Headquartered in Wilmington, Del., U.S.A., the company has 30 manufacturing facilities strategically located around the globe and employs 3,500 people in 118 countries across five continents.

“This is another excellent example of Solenis’ commitment to invest in the pulp and paper industry,” said Charles Robinson, Solenis’ senior vice president of pulp and paper on the Nopco acquisition.

“The interest from Solenis confirms the strengths of Nopco’s product portfolio and what our people have done to support our customers over many years. We are pleased to note that complementary product lines, combined with R&D work will strengthen the capabilities to provide customers with more advanced technologies and high quality products going forward. We are delighted to work together with the leading supplier in the industry to ensure a smooth transition for our customers,” said Peter Mollatt, Nopco CEO.

The transaction is expected to close in the fourth quarter of 2016, following receipt of customary regulatory approvals in Germany.