Advent International has completed its second German chemicals deal in a month, and its ninth in the country in just two years, after buying a division of German chemicals manufacturer Celanese for €480m ($635m).

Advent has bought the Oxo Group, the chemicals and derivatives division of Celanese. Celanese was previously owned by US buyout firm Blackstone, who took the company private in April 2004 only to re-list it in January last year.