Cross Border M&A Deals in Chemicals

M&A transactions

Cross border m&a is the core business of Corporate Finance in Europe. Chemical m&a opportunities occur in the unification of the European market. When selling a business it makes most sense to look for buyers in the broader area of Europe instead of only in your own country.  We are monitoring the chemical market continuously and we see various cross border m&a deals which are of importance for the shape of the industry. In this section we show some recent m&a deals which could affect your strategic plans. The latest deals also have some comments included.

If you already are convinced of the concept of cross border M&A don’t hesitate to contact us by email or phone and ask for our chemical presentation.

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2014 Cross Border M&A Deal in chemical manufacturing

Ercros (Barcelona, Spain) has signed agreements with Timab Ibérica, a subsidiary of the French Roullier group, to sell its 100% stake in Fosfatos de Cartagena for €1.6 million ($2.2 million). Ercros will continue to manufacture dicalcium phosphate at the Flix plant for Timab Ibéric.

Acquirer

 

Roullier group

Country Acquirer

flag France

France

Target

 

Ercros

Country target

flag Spain

Spain

Purchase price

 

1,6m €

Industry

 

Chemical manufacturing

2013 Cross Border M&A Deal in engineering plastics

Domo Chemicals and Aquafil have reached an agreement on the acquisition of Aquafil’s Engineering Plastics business unit by Domo Chemicals. Domo’s Engineering Plastics business unit will now have a global presence in Europe (Arco; Italy) and Premnitz, Germany), US (Cartersville) and China (Jiaxing), serving automotive, electrical, industrial and consumer goods applications worldwide.

The transaction which integrates an Engineering Plastics business is part of Domo Chemicals’ strategy to significantly enlarge its global footprint of its forward integrated Engineering Plastics activities based on a upstream (Caprolactam and intermediates, Nylon) production platform.

Acquirer

 

Domo Chemicals

Country Acquirer

flag Germany

Germany

Target

 

Aquafil

Country target

flag Italy

Italy

Purchase price

 

Undisclosed

Industry

 

Engineering plastics

2013 M&A Deal in flavour and fragrances

Spanish GP Magnum Capital has acquired a majority stake in Iberchem, a Spanish fragrances producer, from Capital Alianza. The revenue was estimated to be €57m (2012) and EBITDA €10m with a staff of 320.

The company's management team participates in the stake in the firm as part of the transaction. The investor made an offer of around €80m, equating to 8x EBITDA. The company was sold through an auction process, which saw interest from around 25 international and local GPs. Magnum intends to grow the firm through the consolidation of its existing position in China, Indonesia and the Middle East. The firm also plans to enter emerging markets.

Acquirer

 

Magnum Capital

Country Acquirer

flag Spain

Spain

Target

 

Iberchem

Country target

flag Spain

Spain

Purchase price

 

80m €

Industry

 

Flavour and fragrances

2013 Cross Border M&A Deal in chemical distribution

Brenntag AG, a Germany based chemical distribution player has signed an agreement to acquire the chemical distribution division of the Mumbai-based Zytex Group, a biotechnology food formulation and manufacturing company in India, by means of an asset deal. Post acquisition, the division will become part of Brenntag India, headquartered in Mumbai. With this acquisition, Brenntag is further strengthening its Nutrition and Health business in India by adding new customer segments and products to its portfolio as well as further expanding its strategic relationships with key global suppliers. The investment amount will be Euro 10.2 Mn. Zytex's food ingredients distribution business focuses on enzymes and yeast for a wide range of applications in the food and beverage industries in India. Brenntag is the global market leader in full-line chemical distribution. Linking chemical manufacturers and chemical users, Brenntag provides business-to-business distribution solutions for industrial and specialty chemicals globally.

Acquirer

 

Brenntag

Country Acquirer

flag Germany

Germany

Target

 

Zytex

Country target

flag India

India

Purchase price

 

10,2m €

Industry

 

Chemical distribution

2013 Cross Border M&A Deal in commodity chemicals

US-based Taminco Corp purchased Finland-based Kemira's formic acid business in a deal worth $190 million or €140 million. Taminco is the largest integrated producer of alkylamines and alkylamine derivatives in the world. The company's products are utilized in making products used everyday for the water treatment, agriculture, personal and home care, gas and animal nutrition end-markets. Kemira is a global chemicals company. Kemira Oyj Formic Acid Business serves the chemical and feed industries, as well as airport runway de-icing activities.

Acquirer

 

Taminco

Country Acquirer

flag US

USA

Target

 

Kemira

Country target

flag Finland

Finland

Purchase price

 

140m €

Industry

 

Commodity chemicals

2012 Cross Border M&A Deal in specialty chemical distribution

Safic-Alcan buys Necarbo, a Dutch specialist in additives for the coatings and inks industry. Safic-Alcan, an international distribution group of chemical specialties, acquired Necarbo, a Dutch-based chemical distributor belonging to the PPG group. This Netherlands-based company was formally owned by PPG Industries and specializes in chemicals and additives for the coatings, inks and water treatment industries. Necarbo, employs 48 people and reported sales of EUR 60 million in 2011.The company portfolio includes synthetic resin and pigment preparations. This acquisition will strengthen Safic-Alcan's position within the coatings & inks industry, specifically within Belgium, the Netherlands, Luxembourg, France, Germany, Malaysia and the Middle East.

Acquirer

 

Safic-Alcan

Country Acquirer

Flag France

France

Target

 

Necarbo

Country target

flag Netherlands

Netherlands

Revenue target

 

60m €

Industry

 

Specialty chemical distribution

2012 Cross Border M&A Deal in specialty chemical food distribution

IMCD Group acquires the Italian distributor of speciality food ingredients Nutrivis srl. Food and Nutrition is one of the focus market segments for the IMCD Group. IMCD is mainly active in Bakery, Beverages, Confectionery, Dairy, Edible oils and fats, Fruits and vegetables, Nutrition, Savoury, Food ingredient manufacturers and Animal nutrition.

Nutrivis' broad speciality food ingredients portfolio will significantly enhance IMCD’s current offering to the market. “Nutrivis brings extensive experience in the Italian speciality Food & Ingredients market. The company's portfolio from international suppliers and its 250-strong customer base offer synergistic opportunities to the IMCD Group,” said Gabriele Bonomi, Managing Director IMCD Italia.
IMCD Group B.V. is a leading company in sales, marketing and distribution of specialty chemicals and food ingredients. Headquartered in Rotterdam, The Netherlands, IMCD has a turnover of € 1.1 billion and employs about 1100 professionals in 35 countries.

Acquirer

 

IMCD Group

Country Acquirer

flag Netherlands

Netherlands

Target

 

Nutrivis srl

Country target

flag Italy

Italy

Purchase price

 

Undisclosed

Industry

 

Specialty chemical food distribution

2011 Cross Border M&A Deal in chemical specialty ingredients

Barentz has acquired Forum Products Ltd (United Kingdom). Forum Products Limited was founded in 1981. Forum’s Head Office is based in the UK and it has 2 international offices in Ireland and India. With a turnover of about 90 Mio Euro, Forum focuses on life- science ingredients and operates in the following business areas: pharmaceutical and fine chemicals, animal nutrition, animal health, food ingredients and functional foods and supplements.

The Barentz Group is a privately owned company founded in 1953 in Amsterdam, The Netherlands. Today Barentz has a leading Pan European position distributing ingredients and additives for the food, pharmaceutical & cosmetic, chemical and animal nutrition industries. The group has built long term relationships with worldwide suppliers and European producers.

By this acquisition Barentz will expand its market presence in the UK adding a strong ingredient distributor position in the pharmaceutical, food and animal nutrition markets to its current business. In addition to this expanded UK position, Barentz will further develop its knowledge in the life-science markets. This acquisition fits Barentz’ strategy to become a pan-European leader in the distribution of specialty ingredients.

Acquirer

 

Barentz

Country Acquirer

flag Netherlands

Netherlands

Target

 

Forum Products

Country target

flag United Kingdom

United Kingdom

Revenue target

 

90m €

Industry

 

Chemical specialty ingredients distribution

2011 Cross Border M&A Deal in Specialty chemical distribution

Brenntag acquires specialty chemical distributor Multisol Group Limited (UK). Brenntag acquires Multisol Group Limited, the holding company of the Multisol Group which is engaged in the distribution of high value specialty chemicals.

Multisol provides a further expansion of Brenntag’s product portfolio into lubricant additives and high quality base oils and expands Brenntag’s mixing and blending capabilities. Multisol’s geographic presence in Central and Eastern Europe and Africa complements Brenntag’s existing infrastructure and logistics network. Brenntag, the global market leader in chemical distribution, further develops its market position in the distribution of specialty chemicals with focus on lubricants and base oils including mixing and blending capabilities. Multisol is a specialist in the distribution of lubricant additives and base oils in Europe and Africa working together with some of the world’s largest producers. Revenues of Multisol are GBP 238 million.

Acquirer

 

Brenntag

Country Acquirer

flag Germany

Germany

Target

 

Multisol

Country target

flag United Kingdom

UK

Revenues target

 

238m GBP

Industry

 

Specialty chemical distribution

2011 Cross Border M&A Deal in Chemicals

In February 2011 Clariant reached agreements with the majority shareholder One Equity Partners (50.4%) and the family shareholders (around 46%) to acquire a total of 96.15% of the outstanding shares of Süd-Chemie AG from Germany. The total value of the transaction was EUR 2.0 billion (CHF 2.5 billion).

Acquirer

 

Clariant

Country Acquirer

flag Zwitserland

Zwitserland

Target

 

Süd-Chemie AG

Country target

flag Germany

Germany

Purchase price

 

2.0b €

Industry

 

Chemicals

2010 Cross Border M&A Deal in Chemicals

The m&a transaction is in line with Weir's strategy to grow its global capability, to expand its emerging market footprint and strengthen its aftermarket presence. The addition of the Linatex's brand and products are complementary to Weir's existing offering in minerals processing.  It also provides Weir significant potential for expansion in the Canadian oil sands market through newly developed Linatex equipment. The transaction was completed on 17 September 2010.

Acquirer

 

The Weir Group PLC

Country Acquirer

flag United Kingdom

United Kindom

Target

 

Linatex Consolidated Holdings Limited

Country target

flag Malaysia

Malaysia

Purchase price

 

200m $

Industry

 

Rubber Manufacturing

2010 M&A transaction in Chemicals 

Due to the M&A deal Illinois Tool Works will be able to expand its European operations in countries like Italy, France and Portugal. The 3i Group plc, a private equity firm, has sold it’s 75% stake in Panreac Quimica S.A.U. The acquisition was completed on 14 September 2010.

Acquirer

 

 Illinois Tool Works, Inc.

Country Acquirer

United States-flag

 United States

Target

 

 Panreac Quimica S.A.U.

Country target

 Spain-flag

 Spain

Purchase price

 

 72m $ for 75% stake

Industry

 

 Chemicals – manufacturing, supplier

2010

Acquirer

 

KP Chemical

Country Acquirer

 Uk-flag

United Kingdom

Target

 

Artenius

Country target

 Korea-flag

Korea

Purchase price

 

Not disclosed

Industry

 

Chemical product manufacturing

2010

Acquirer

 

Solutia

Country Acquirer

United States-flag

United States

Target

 

Etimex Solar

Country target

Germany-flag

Germany

Purchase price

 

240m €

Industry

 

specialty chemicals

 2010

Acquirer

 

Brenntag

Country Acquirer

Germany-flag

Germany

Target

 

Metausel

Country target

France-flag

France

Purchase price

 

Not disclosed

Industry

 

Chemical distribution

 2009

Acquirer

 

Celanese

Country Acquirer

United States-flag 

United States

Target

 

FACT GmbH

Country target

Germany-flag

Germany

Purchase price

 

Not disclosed

Industry

 

thermoplastics

 2009

Acquirer

 

AkzoNobel

Country Acquirer

Netherlands-flag

Netherlands

Target

 

LII Europe

Country target

Germany-flag

Germany

Purchase price

 

Not disclosed

Industry

 

Industrial chemicals

 2008 

Acquirer

 

Brenntag

Country Acquirer

Germany-flag

Germany

Target

 

Aromaster, Ltd.

Country target

Turkey-flag

Turkey

Purchase price

 

Not disclosed

Industry

 

Specialty chemical distribution

 2006

Acquirer

 

International Chemical Investors Group (ICIG)

Country Acquirer

Germany-flag

Germany

Target

 

Cambrex Cork Limited

Country target

Ireland-flag

Ireland

Purchase price

 

Not disclosed

Industry

 

Fine chemicals (pharma)

2006

Acquirer

 

SABIC

Country Acquirer

Saudi-Arabia-flag

Saudi Arabia

Target

 

Huntsman Petrochemicals (UK) Ltd

Country target

Uk-flag

United Kingdom

Purchase price

 

685m $

Industry

 

base chemicals and polymers

2005

Acquirer

 

Borden Chemical

Country Acquirer

United States-flag

USA

Target

 

Bakelite AG

Country target

Germany-flag

Germany

Purchase price

 

Not disclosed

Industry

 

thermoset and high performance resins