Triton / United Initiators

Timeline

1. 14 Aug 2026Filed with the ACCC
2. 7 Sept 2026Notification waiver determination publishedPDF · 139.1 KB

Acquisition details

The transaction concerns the proposed acquisition of all shares in and sole control over United Initiators Holding GmbH, United Initiators GmbH and Bayern Acquisition LLC and each of their direct and indirect subsidiaries (collectively, United Initiators ) by Unna BidCo GmbH (the Acquisition ). Unna BidCo GmbH is a newly formed special purpose vehicle indirectly controlled by Triton Fund 6 GP SARL in its capacity as general partner of Triton Fund 6 SCSp (which, together with a number of other limited partnerships, form part of Triton Fund 6 ). Triton Fund 6 is one of several investment funds (the Triton Funds ) managed and advised by entities being part of the Triton group (collectively, Triton ). The Triton Funds, including Triton Fund 6, are dedicated to investing in medium-sized companies headquartered in Central and Northern Europe, with a particular focus on three core sectors: Industrial Tech, Business Services, and Healthcare. United Initiators is a global manufacturer of active oxygen chemicals used as initiators in the polymerisation process. Specifically, United Initiators manufactures and supplies (i) organic peroxides, (ii) persulfates, and (iii) hydrogen peroxide. United Initiators also supplies a limited range of accelerators and inhibitors used in the curing of unsaturated polyester resins. United Initiators is headquartered in Pullach, Germany, and operates several manufacturing sites globally. United Initiators’ products are used by customers across the polymer industry, serving a range of end uses, including consumer goods, housing and infrastructure, transportation, sustainable technologies, textile and paper, and health and cosmetics.