IP Group company Perachem join PLUS Markets via reverse takeover

Perachem Ltd, a speciality chemicals company spun-out from the University of Leeds, UK, is to join London’s PLUS Markets Group via a reverse takeover of Primavera Capital plc, and change its name to Eco Chemical Enterprises plc.

The main shareholder is the quoted intellectual property IP Group plc. On completion of the transaction it will own 24.5 percent of the enlarged share capital.

Perachem’s business is focussed on developing safer chemicals for use in the textile industry, including chlorine-free shrink resistant treatments for wool; flame retardant textiles that do not release potentially carcinogenic halogens and formaldehyde during their manufacture or use; peroxide-free bleaching agents; and textiles with long lasting microbial protection against antibiotic resistant bacteria.