The dyes and pigments industry in Europe is a vital sector focused on developing and distributing colorants for various applications, including textiles, coatings, and cosmetics. Companies engaged in this industry range from small innovative startups to established multinationals. They offer products that satisfy the growing demand for sustainable and environmentally friendly solutions. The industry is shifting towards bio-based alternatives and digital dyeing technologies, influenced by changing consumer preferences and regulatory pressures. Investments in research and development are crucial, as firms strive for technological advancements and efficiency improvements in dye applications and production processes.


This list features a range of 12 prominent investors in Europe’s dyes and pigments industry, consisting of venture capital, private equity, and corporate firms. With headquarters scattered across Paris, London, Stockholm, and Amsterdam, these investors vary in size, from nimble teams to giants with thousands of employees. Since their foundations between 1792 and 2015, they have together executed a remarkable 342 investments in 2024, illustrating their commitment to supporting innovation within this sector. Each investor actively contributes to shaping trends in dyes and pigments through significant funding to impactful projects.


Top 12 Dyes and Pigments Investors in Europe


1. Bpifrance French Tech Accélération


Bpifrance French Tech Accélération is a venture capital firm based in Paris, Île-De-France, France, founded in 2015. As a public entity and financial institution, Bpifrance supports entrepreneurs and businesses in France and internationally by providing a range of services including direct funding, export credit insurance, and private equity investments. The firm aims to foster entrepreneurship and innovation through coaching and partnerships, helping businesses navigate growth and international expansion. Notably, Bpifrance has been involved in several transactions relevant to the dyes and pigments sector, particularly with Pili, a French bio-tech company that specializes in biobased indigo production. Bpifrance led a Series A funding round for Pili in February 2023, raising $15.8 million, and has participated in multiple funding rounds for the company since 2018, demonstrating a consistent commitment to supporting innovation in the dyes and pigments industry. Additionally, Bpifrance invested in Olikrom, which also operates in the field of colorants and pigments, further solidifying its relevance in this sector.


2. Almi

  • Website: almi.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 201-500
  • Number of deals in 2024: 7
  • LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises (SMEs) in Sweden, aiming to enhance their growth and competitiveness through tailored financial solutions. Almi has been involved in several notable transactions within the textile and dyeing technology sector, including a seed investment in Vividye AB, which focuses on innovative fabric dyeing techniques. This investment allows Vividye to improve its technology for removing and reapplying colors on fabrics. Additionally, Almi has invested in Coloreel, a company that develops technology for on-demand dyeing of textiles, and re:newcell, which works on sustainable textile recycling. These transactions highlight Almi's active role in supporting advancements in the dyes and pigments industry, making it a relevant investor in this field.


3. Azelis

  • Website: azelis.com
  • Type: Corporate
  • Headquarters: Antwerp, Flanders, Belgium
  • Founded year: 2001
  • Headcount: 1001-5000
  • Number of deals in 2024: 5
  • LinkedIn: azelis

Azelis is a corporate investor based in Antwerp, Flanders, Belgium, specializing in the distribution of specialty chemicals and providing innovation services. Founded in 2001, Azelis serves over 63,000 customers across the life sciences and industrial sectors, focusing on high-quality raw materials and innovative formulations. In recent years, Azelis has made several strategic acquisitions to strengthen its market position. Notably, they acquired CPS Chemicals, a distributor in the coatings and paints sector, which enhances their capabilities in the dyes and pigments market. Additionally, their acquisition of WhitChem, which specializes in coatings, adhesives, sealants, and elastomers, further solidifies their involvement in industries that utilize dyes and pigments. These transactions reflect Azelis's commitment to expanding its footprint in relevant markets, making them a significant player in the specialty chemicals landscape.


4. Brenntag

  • Website: brenntag.com
  • Type: Corporate
  • Headquarters: Essen, North Rhine-Westphalia, Germany
  • Founded year: 1874
  • Headcount: 10001+
  • Number of deals in 2024: 8
  • LinkedIn: brenntag

Brenntag SE, founded in 1874 and headquartered in Essen, North Rhine-Westphalia, Germany, is a leading global chemical distributor that connects chemical manufacturers with users across various industries. With a workforce of over 10,000 employees, Brenntag serves approximately 195,000 customers, providing a wide range of specialty and industrial chemicals along with value-added services. The company has made several strategic acquisitions to enhance its capabilities in chemical distribution. Notably, the acquisition of Monarch Chemicals in August 2024 aims to strengthen their last mile service capabilities in the UK, which could include the distribution of dyes and pigments. Additionally, their joint venture with Raj Petro Specialities Pvt. Ltd. in India indicates their intent to expand their footprint in the chemical distribution market, potentially covering a diverse range of chemical products, including those relevant to the dyes and pigments sector. Overall, Brenntag's extensive network and recent transactions position them as a relevant player in the chemical distribution landscape, including the dyes and pigments industry.


5. Agoranov

  • Website: agoranov.com
  • Type: Corporate
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 2000
  • Headcount: 11-50
  • Number of deals in 2024: 42
  • LinkedIn: agoranov

Agoranov is a startup incubator based in Paris, Île-De-France, founded in 2000. They specialize in supporting technology and science startups through personalized assistance, fully equipped facilities, and acceleration programs. In 2024, Agoranov has made 42 investments, focusing primarily on early-stage startups across various innovative sectors. Notably, they have been involved in transactions with companies like Ever Dye, which focuses on sustainable dye production, and Fairbrics, which is developing innovative solutions in the textile dyeing process. These transactions highlight Agoranov's commitment to fostering innovation in the dyes and pigments industry, alongside their broader investment strategy.


6. L'Oréal

  • Website: loreal.com
  • Type: Corporate
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1909
  • Headcount: 10001+
  • Number of deals in 2024: 4
  • LinkedIn: lor%c3%a9al

L'Oréal S.A. is a leading cosmetics manufacturer based in Paris, specializing in personal care products such as skin care, make-up, hair care, and perfumes. Founded in 1909, the company has a strong focus on innovation and sustainability. In 2024, L'Oréal participated as an anchor investor in a $3.2 million seed funding round for Sparxell, a UK-based developer of sustainable plant-based pigments. This investment highlights L'Oréal's commitment to sustainability and innovation in the dyes and pigments space. Additionally, L'Oréal has made several acquisitions in the hair care sector, including brands like Pulp Riot and Pureology Research, which utilize various pigments in their products, further emphasizing its engagement with the dyes and pigments industry.


7. Cvc

  • Website: cvc.com
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 2005
  • Headcount: 1001-5000
  • Number of deals in 2024: 16
  • LinkedIn: cvc-capital-partners

CVC Capital Partners is a prominent investment firm founded in 2005, based in Luxembourg, specializing in private equity, credit, secondaries, and infrastructure. With approximately €193 billion in assets under management for over 1000 clients, including pension funds and institutional investors, CVC focuses on delivering sustainable value and growth through strategic investments. Notably, CVC has made significant investments in the paints and coatings sector, including a recent acquisition of a 30% minority stake in Hempel, a leading Danish provider valued at $3.6 billion, aimed at supporting the company's growth and sustainability initiatives. Additionally, CVC's acquisition of Sajjan India in 2022 and Taminco in 2007, both of which may have relevance to the dyes and pigments industry, further highlights their strategic positioning in related markets.


8. Eurazeo

  • Website: eurazeo.com
  • Type: Private Equity
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1969
  • Headcount: 201-500
  • Number of deals in 2024: 40
  • LinkedIn: eurazeo

Eurazeo is a prominent investment management firm based in Paris, specializing in private equity, private debt, and real assets. Founded in 1969, the firm has established a strong presence in the investment management landscape, particularly in Europe. Eurazeo focuses on tailored investment strategies aimed at fostering growth and expansion across various sectors, including technology, healthcare, and chemicals. Notably, Eurazeo has made strategic investments in companies relevant to the dyes and pigments industry, such as their acquisition of a 70% stake in Iberchem, a Spanish company involved in flavors and fragrances, which often intersects with the dyes and pigments market. Additionally, their investment in Groupe Berkem, which specializes in bio-based chemicals, further highlights their engagement in the chemical sector. These transactions demonstrate Eurazeo's commitment to supporting companies that can impact the dyes and pigments industry, making them a relevant investor in this space.


9. Saint-Gobain

  • Website: saint-gobain.com
  • Type: Corporate
  • Headquarters: Courbevoie, Île-De-France, France
  • Founded year: 1665
  • Headcount: 10001+
  • Number of deals in 2024: 14
  • LinkedIn: saint-gobain

Compagnie de Saint-Gobain S.A. is a prominent construction materials manufacturer based in Courbevoie, Île-De-France, France, with a history dating back to 1665. The company operates in 76 countries and is dedicated to providing innovative solutions for the construction and industrial sectors, emphasizing sustainability and performance. Saint-Gobain's customer base includes construction firms, industrial manufacturers, and consumers seeking high-quality materials. Notably, Saint-Gobain has made strategic acquisitions that enhance its product offerings, including the acquisition of Z-Tech LLC, which specializes in zirconia powders, aligning with their strategy to strengthen their position in high-performance solutions. Other acquisitions, such as ICC and Izomaks, further demonstrate their commitment to expanding their capabilities in various materials, potentially including those relevant to the dyes and pigments industry.


10. AkzoNobel

  • Website: akzonobel.com
  • Type: Corporate
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1792
  • Headcount: 10001+
  • LinkedIn: akzonobel

AkzoNobel N.V. is a prominent corporate investor based in Amsterdam, Netherlands, with a rich history dating back to 1792. As a leading manufacturer of paints and coatings, AkzoNobel provides innovative and sustainable solutions for both industrial and consumer markets. The company serves a diverse customer base, including businesses in construction and automotive industries, as well as individual consumers. AkzoNobel has made several strategic acquisitions to enhance its product offerings and market position. Notably, the acquisition of Stahl Performance Powder Coatings in 2020 aimed to strengthen their capabilities in low-curing technology, which is relevant for coatings that may utilize pigments. Additionally, their acquisition of the alloy wheel liquid coatings business of Lankwitzer Lackfabrik GmbH in 2022 further demonstrates their commitment to expanding their coatings portfolio, which often incorporates dyes and pigments. With operations in over 150 countries, AkzoNobel is dedicated to delivering high-quality products that enhance and protect surfaces, making them a significant player in the dyes and pigments industry.


11. Ardian

  • Website: ardian.com
  • Type: Private Equity
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1996
  • Headcount: 1001-5000
  • Number of deals in 2024: 21
  • LinkedIn: ardian

Ardian is a prominent investment management firm based in Paris, specializing in private equity, real assets, and credit solutions. Founded in 1996, Ardian has established a global presence and focuses on sustainable finance, aiming to create lasting value for its clients, which include institutional investors, family offices, and pension funds. Among its notable transactions, Ardian acquired Italmatch Chemicals, an Italian chemical company, which is involved in specialty chemicals that can be relevant to the dyes and pigments industry. Additionally, Ardian's exclusive negotiations to acquire a majority stake in DRT, a green chemistry group, further highlight its commitment to investing in chemical companies. The firm also supported the buyout of Sicer, which specializes in high-end ceramic coatings, and acquired a majority stake in Corob, a leader in automation solutions for the chemical and coatings industries. These transactions reflect Ardian's strategic interest in sectors that intersect with dyes and pigments, reinforcing its relevance in this investment category.


12. EQT Group

  • Website: eqtgroup.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1001-5000
  • Number of deals in 2024: 30
  • LinkedIn: eqt-partners

EQT Group is a prominent investment firm founded in 1994, headquartered in Stockholm, Sweden. Specializing in private equity, infrastructure, real estate, growth equity, and venture capital, EQT serves institutional investors by managing diverse investment portfolios across multiple sectors and geographies. Notably, EQT has made significant investments in the dyes and pigments context, including the acquisition of Oterra, a leader in natural colorants, in September 2020. This acquisition highlights EQT's commitment to the dyes and pigments industry. Furthermore, their partnership in acquiring Azelis, a global specialty chemicals distributor, further emphasizes their involvement in sectors that intersect with dyes and pigments. These strategic investments reflect EQT's expertise and interest in the chemical and materials sectors, making them a relevant player in the dyes and pigments market.



Dyes and Pigments Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
Bpifrance French Tech AccélérationParis, Île-De-France, France1-102015198
AlmiStockholm, Stockholm, Sweden201-50019947
AzelisAntwerp, Flanders, Belgium1001-500020015
BrenntagEssen, North Rhine-Westphalia, Germany10001+18748
AgoranovParis, Île-De-France, France11-50200042
L'OréalParis, Île-De-France, France10001+19094
CvcLuxembourg1001-5000200516
EurazeoParis, Île-De-France, France201-500196940
Saint-GobainCourbevoie, Île-De-France, France10001+166514
AkzoNobelAmsterdam, North Holland, Netherlands10001+17920
ArdianParis, Île-De-France, France1001-5000199621
EQT GroupStockholm, Stockholm, Sweden1001-5000199430


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