KUALA LUMPUR, Sept 9 (Bernama) -- Syntagma Capital has entered into exclusive negotiations to acquire certain assets of Imerys producing kaolin, ground calcium carbonate, precipitated calcium carbonate and talc primarily serving the paper, as well as pulp, board, packaging, ceramics and building markets for an enterprise value of €390 million. (€1 = RM4.516)
This includes an earn-out based on the future performance of the business, according to a statement.
These activities are operated by approximately 950 employees in 24 plants, seven distribution terminals, and two R&D centres in Europe, the Americas and Asia. In total, these activities represented approximately €400 million in sales in 2021.
The proposed transaction, which is subject to the fulfillment of customary closing conditions, including the information and consultation of works councils and other regulatory approvals, is expected to be completed by the end of the first half of 2023.
“Syntagma is excited by the opportunity to invest in the Business, a global leader that serves critical needs of customers across a broad range of end-markets,” said Syntagma Managing Partner Sebastien Kiekert Le Moult.
“This Business has been a core part of Imerys for many years and we appreciate Imerys’ confidence in our capacity to steer the Business forward and deliver a transaction that is opportune for all stakeholders.”
Meanwhile, Imerys Chief Executive Officer, Alessandro Dazza said: “In Syntagma, we have found a partner that shares Imerys’ values and passion for delivering mineral solutions in a responsible way.
“We are confident that our employees, customers, and the business overall will flourish and develop under the new ownership. I would like to thank the teams in management, operations and functions for their outstanding work in building this business over the years. I know they will continue delivering excellent results also in the future.”
Syntagma’s team involved in the transaction included Sebastien Kiekert Le Moult (Managing Partner), Frank Coenen (Partner), Benjamin Dahan (Partner), Fabio Yamasaki (Vice President), Ludovic Ruffenach (Senior Associate) and Gabriele Lo Monaco (Associate).
More details at https://syntagmacapital.com.
-- BERNAMA
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