One Equity Partners sells its majority stake in Sud-Chemie AG to Clariant International Ltd.
Munich, April 26, 2011, One Equity Partners (OEP) has sold its majority stake in the specialty chemicals company Süd-Chemie AG to Clariant, the global specialty chemical company based in Switzerland, for EUR 121 per share. The transaction closed today.
OEP had initially acquired 39.19 percent of shares in Süd-Chemie in 2005 for a price of EUR 35 per share and increased its shareholding to 50.41 percent in 2007. In cooperation with the management and traditional shareholders, OEP helped developing Süd-Chemie into a strong global company with robust growth and profitability.
“Right from the beginning, we have supported the management in its quest for focusing and growing the business and cooperated closely with traditional shareholders of the company”, said Christoph Giulini, Partner at OEP.
With OEP’s support, Süd-Chemie did not only foster its core business of Adsorbents and Catalysts but also invested in promising new growth markets such as for example the production of lithium iron phosphate used in future battery technology.
“We can now hand over a strengthened and well positioned company with interesting growth prospects”, said Christoph Giulini.
Since OEP’s involvement in 2005, Süd-Chemie increased sales from EUR 862.2 million in 2004 to EUR 1.2 billion in 2010. Süd-Chemie’s EBIT rose from EUR 51.0 million to EUR 139.7 million in the same period.
In total, Clariant has taken over more than 95 percent of Süd-Chemie’s shares. According to the formed agreement of the company’s major shareholders, OEP sold its stake while the traditional shareholders, some of whose families have invested and participated in Süd-Chemie for more than a century, received 8.84 shares in Clariant for one share in Süd-Chemie AG.
"The fact that more than 95 percent of the shareholders agreed to the transaction speaks for itself", said Professor Dr. Utz-Hellmuth Felcht, Chairman of the Supervisory Board of Süd-Chemie AG.
Süd-Chemie (www.sud-chemie.com) is a publicly quoted (ISIN: DE0007292005; WKN: 729200) specialty chemicals company headquartered in Munich, Germany and operating on a worldwide scale. Products manufactured by the Catalysts Division offer solutions for the chemical, petrochemical and refinery industries, for energy storage and hydrogen production, as well as off-gas purification. Key markets served by its Adsorbents Division include the consumer goods, packaging and foundry industries, as well water treatment. The common denominator of all Süd-Chemie products and services is the efficient and sparing use of natural resources to enhance the quality of life for humans and the environment. The Süd-Chemie Group generated sales of EUR 1.225 billion in 2010, about 85percent of these outside Germany. On 31 December 2010, the Group employed more than 6,400 people in approximately 120 sales and production companies worldwide.
About One Equity Partners
One Equity Partners is the private investment arm of JPMorgan Chase & Co. and manages over $8 billion in commitments and investments solely for the bank. OEP enters into long term partnerships with companies to create sustainable value through long term growth driven both organically and inorganically. Founded in 2001, OEP has 39 investment professionals in New York, Chicago, Frankfurt, Hong Kong and elsewhere around the globe. Visit www.oneequity.com for more information.
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