Valence adviseert Evonik over aankoop Performance Materials van Air Products
LONDEN–(BUSINESS WIRE)– The Valence Group heeft Evonik Industries AG geadviseerd op gebied van zijn onlangs aangekondigde overname van Performance Materials van Air Products & Chemicals voor een bedrijfswaarde van 3,8 miljard dollar.
Performance Materials, onderdeel van de divisie voor materiaaltechnologieën van Air Products, is een internationale leider in gespecialiseerde en beschermende additieven, zoals agenten voor onderhoud van epoxy, polyurethane additieven op basis van aminen en specialistische bevochtingsmiddelen. De combinatie versterkt en complimenteert Evoniks productportfolio in termen van eindmarkten, technologieën en geografisch afzetgebied. Naar verwachting genereert de overname synergieën van ten minste 80 miljoen dollar per jaar en bijkomende belastingvoordelen van meer dan 500 miljoen dollar.
Valence Advises Evonik on the Acquisition of the Performance Materials Business of Air Products
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LONDON–(BUSINESS WIRE)– The Valence Group has advised Evonik Industries AG on its recently announced acquisition of the Performance Materials business of Air Products & Chemicals, Inc. for an enterprise value of $3.8bn. The Performance Materials business, part of Air Products’ Materials Technologies division, is a global leader in specialty and coatings additives, such as epoxy curing agents, amine-based polyurethane additives and specialty wetting agents. The combination strengthens and complements Evonik’s product portfolio in terms of end markets, technologies and geographic footprint, and is expected to generate synergies of at least $80m per annum, with incremental tax benefits worth in excess of $500m. Air Products Performance Materials generated revenue of $1.08bn in 2015 with a corresponding EBITDA of $242m, representing a margin of over 22%. Headquartered in Allentown, PA, the business employs 1,100 globally (of which >20% in R&D), with 50% of its sales in the Americas, 26% in Asia and 24% in Europe, supported by a worldwide network of 11 manufacturing plants and 8 R&D centers. By focusing on high end niche applications, customer specific solutions and truly innovative products, the business has maintained consistently high margins with low capital intensity and strong cash generation. About Evonik Evonik, the creative industrial group from Germany, is one of the world leaders in specialty chemicals. Profitable growth and a sustained increase in the value of the company form the heart of Evonik’s corporate strategy. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative prowess and integrated technology platforms. Evonik is active in over 100 countries around the world. In fiscal 2015 more than 33,500 employees generated sales of around €13.5 billion and an operating profit (adjusted EBITDA) of about €2.47 billion. About The Valence Group The Valence Group is a specialist investment bank offering M&A advisory services exclusively to companies and investors in the chemicals, materials and related sectors. The Valence Group team includes a unique combination of professionals with backgrounds in investment banking and strategic consulting within the chemicals and materials industries, all focused exclusively on providing M&A advisory services to the chemicals and materials sector. The firm’s offices are located in New York and London. View source version on businesswire.com: http://www.businesswire.com/news/home/20160509005713/en/ Contacts The Valence Group |
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