A specialty chemicals company, Nouryon, has decided to set up its North American headquarters in Radnor, writes Natalie Kostelni for the Philadelphia Business Journal.

The company, owned by Carlyle Group, has signed a lease for 50,000 square feet over two floors at Five Radnor Center at 100 Matson Ford Road.

Along with designating the site as its headquarters, Nouryon also expanded the lease to include another 12,000 square feet within the office complex.

Brandywine Realty Trust is the landlord at the Radnor property. The global headquarters is in the Netherlands.

Carlyle bought Nouryon in 2018 from Amsterdam company Akzo Nobel N.V. It paid the equivalent of about $11 billion in the sale.

Earlier this year, the company spun out its base chemical business, Nobian, though it is still owned by Carlyle.

Nouryon filed a registration statement in September with the SEC for an initial public offering.

Charlie Shaver, chairman and CEO of Nouryon, formerly headed Axalta Coating Systems, Ltd.

Axalta is a Dow Chemical Co. spinout bought by Carlyle. It had its headquarters in Philadelphia until November 2020. It maintains an R&D facility at the Philadelphia Navy Yard.

Read more about Nouryon in the Philadelphia Business Journal.