OXEA was formed on March 1, 2007 when Advent International acquired the business from Celanese Corporation.
The acquired businesses comprised the Oxo Intermediates and Derivatives activities of Celanese, as well as the entire operations of European OXO GmbH ("EOXO"), a 50-50 joint venture of Celanese and Degussa AG.
Since December 2013 OXEA is part of Oman Oil Company (OOC). OXEA started in March 2007 as a buyout of Oxo derivatives and Oxo intermediates businesses from two international chemical companies.
OXEA is a young company whose roots date back to 1918 and was part of a number of renowned predecessor companies (see image).