29 January 2016 – Advent International (“Advent”), one of the largest and most experienced global private equity investors, today announced the appointment of Frank Aranzana as an Operating Partner.

He will work closely with Advent to identify new investment opportunities in the global chemicals and materials sector.  Over the past four decades, Mr Aranzana has built up a wealth of management and M&A experience in the industry, as well as forging key international contacts which he will leverage in his new role.

Most recently Mr Aranzana served as Chief Executive Officer of existing Advent portfolio company Allnex. He will continue to work closely with the Company and sits on Allnex’s Advisory Committee.

During his tenure as Chief Executive Officer of Allnex, Mr Aranzana led the Company through its journey to become the leading producer of resins for the paints and coatings industry. Previously, he was President of Cytec Specialty Chemicals, a member of Cytec’s Executive Leadership Team and in 2008 became an Officer of Cytec Industries Inc. Before this, Mr Aranzana was Vice President of Cytec Surface Specialties.

After serving in the French Air Force, Mr Aranzana started his career with DOW Chemical Company in 1986, where he worked in sales, marketing and business management. In 1996 he joined DuPont Dow Elastomers as Business Director and then in 1999, joined UCB as Director of the RADCURE business unit and subsequently Specialty Chemicals.

He holds a master’s degree in economics from IEP Paris, a master’s in law from Nice University, and an MBA from ESSEC Paris.

Ron Ayles, Managing Partner and head of Advent International’s global chemical practice, commented: “We are delighted to be welcoming Frank to our Operating Partner Program. His work with Allnex has been invaluable and his expertise has helped to drive the success of the company. Now, as an Operating Partner he will continue to be a great asset to Advent, helping us to pursue new investment opportunities in the chemicals and materials sector, as well as provide support to current and future portfolio companies.”

Frank Aranzana, added: “I have developed a strong relationship with Advent in recent years and am very much looking forward to taking on this new opportunity as an Operating Partner. My time as Chief Executive Officer of Allnex has been extremely rewarding and I will continue to support the company in my new role. The global chemicals and materials sector is producing some interesting investment opportunities at the moment and I will be working alongside the Advent deal team to help them identify the very best.”

Advent has been active in the chemicals and industrials sector for nearly 30 years and has completed around 30 investments in the sector globally. The firm has developed a strong record in carving out these businesses from multinational corporations and enabling them to become successful, independent companies. Since 2000, Advent’s investments in the chemicals and materials sector include Allnex, Maxam, Mondo Minerals, Oxea, H.C. Starck, HT Troplast, Deutek, Bolix, Materis and Vinnolit.

Advent’s Operating Partner Program is a long-established and successful element of the firm’s highly operational approach to investing. The program includes over 60 senior industry executives who work in specific sectors as independent consultants to Advent and its portfolio companies. These executives typically assist in activities such as finding attractive investment opportunities, conducting due diligence, and creating and supporting value creation plans for Advent’s portfolio companies.