Heubach Partners with SK Capital to Drive Next Phase of Growth for Clariant’s Pigments Business
The Heubach Group (“Heubach”), in partnership with SK Capital Partners (“SK Capital”), announced today a definitive agreement to acquire Clariant’s Pigments Business (“Clariant Pigments”). The combined business will operate under the Heubach name, creating a global pigments leader generating more than €900 million in annual sales.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210613005051/en/
The transaction values Clariant Pigments at approximately CHF 805 million, with additional consideration of CHF 50 million contingent on the 2021 financial performance of the business unit. As part of the transaction, Clariant will be reinvesting for a minority stake in the combined business, demonstrating its continuing commitment to the success of Clariant Pigments and the substantial growth opportunity in the combination with Heubach.
Heubach is a leading global producer of organic, inorganic, and non-toxic anti-corrosive pigments, operating four global production locations and employing approximately 1,000 people. Clariant Pigments is a leading global provider of organic pigments, pigment preparations and dyes, operating 13 global production sites and employing approximately 1,900 people.
The combination of Heubach and Clariant Pigments is expected to be highly synergistic, and creates a diversified pigments player that will enhance Heubach’s and Clariant Pigments existing positions. The businesses share a complementary product portfolio and a regionally compatible asset footprint, which will allow for an expanded product range and wider geographical coverage to better serve customers. The combined business will continue to prioritize innovation, quality, technical service and product development in order to provide an enhanced value proposition for its customers.
Johann Heubach, Chief Executive Officer of the Heubach Group, noted “We have been in pigments for more than 200 years. My late father and I set out to drive consolidation in the pigments industry, and the combination of Heubach and Clariant Pigments is a major milestone in this vision. We are extremely excited to have gained SK Capital as a partner and we are eagerly looking forward to capitalizing on their expertise in integrating and operating businesses in the global chemical industry. The fit between Heubach and Clariant Pigments is perfect. The combination of industry leading technologies, a product portfolio serving a wide range of customer requirements and global production and service footprint will give the newly formed Heubach Group the ability to serve our global customer base in the coatings, plastics, inks and specialty applications fields with industry leading products and services.”
Aaron Davenport, a Managing Director of SK Capital, noted “Clariant Pigments is a premier global colorant solutions provider, and, together with our new partners, the Heubach Group and Clariant, we see a tremendous opportunity to create significant value for all stakeholders.”
Conrad Keiijzer, Chief Executive Officer of Clariant, noted “We are pleased to announce the agreement with Heubach and SK Capital for the sale of our pigments business. We are confident that with Heubach and SK Capital, we have found the right new owners of this business, for our customers, our colleagues and our other stakeholders.”
Closing of the transaction is subject to customary conditions and approvals and is expected to take place in the first half of 2022. The Valence Group of Piper Sandler & Co., BofA Securities and Citi served as financial advisors to Heubach and SK Capital. Committed financing for the transaction was provided by BofA Securities and Citi. Lenz & Staehelin AG and Kirkland & Ellis LLP acted as legal counsel to Heubach and SK Capital. Milbank LLP acted as legal counsel to Heubach. Homburger AG acted as legal counsel to Clariant and Deutsche Bank AG served as Clariant’s financial advisor.
Heubach has more than 200 years of experience in pigments production as one of the first-ever manufacturers of pigments. Heubach is a leading global producer of organic, inorganic and anticorrosive pigments and pigment preparations, is headquartered in Langelsheim, Germany and has sites in Germany, US, and India with sales offices around the world. Over the years, Heubach has developed a leading technology position, which has been built both internally and from the successful take-overs of pigment activities from Bayer, DuPont and ICI. Heubach operates its global business according to “Best-in-Class” German standards with a focus on EHS excellence, quality leadership, product stewardship and innovation. For more information, please visit www.heubachcolor.com.
About SK Capital
SK Capital is a private investment firm with a disciplined focus on the specialty materials, chemicals and pharmaceuticals sectors. The firm seeks to build strong and growing businesses that create substantial long-term value. SK Capital aims to utilize its industry, operating and investment experience to identify opportunities to transform businesses into higher performing organizations with improved strategic positioning, growth and profitability as well as lower operating risk. SK Capital’s portfolio of businesses generates revenues of approximately $11 billion annually, employs more than 16,000 people globally and operates 150 plants in 28 countries. The firm currently has greater than $5 billion of assets under management. For more information, please visit www.skcapitalpartners.com.
Clariant is a focused and innovative specialty chemical company based in Muttenz, near Basel/Switzerland. On 31 December 2020, the company employed a total workforce of 13,235. In the financial year 2020, Clariant recorded sales of CHF 3.860 billion for its continuing businesses. The company reports in three business areas: Care Chemicals, Catalysis and Natural Resources. Clariant’s corporate strategy is based on five pillars: focus on innovation and R&D, add value with sustainability, reposition portfolio, intensify growth, and increase profitability.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
+44 203 475 7552 (o)
+44 7904 114 002 (m)
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Leicester’s Hospitals Awards Deenova a Unit Dose Pharmacy Automation 15 Year Contract2.8.2021 08:00:00 CEST | Press release
Deenova reported today it signed its first ever contract in the United Kingdom, and established operations in Europe’s second largest GDP health care market, with the NHS being the eight largest employer in the world. Deenova was selected by University Hospitals of Leicester NHS Trust as the best solution amongst 8 of Deenova's competitors in United Kingdom and the United States of America. Claire Ellwood, chief pharmacist at University Hospitals of Leicester NHS Trust, said: “We’re proud to be working with Deenova to deploy the first unit dose closed loop medicines management system in the UK. Every year, we administer millions of medication doses so it’s vital our processes are as safe and efficient as possible. The partnership with Deenova will increase automation within our medication processes helping to reduce errors and wastage as well as freeing up staff time for other care and tasks. After a successful pilot, we are pleased to start planning the roll out across our three hospi
AMICOGEN Inc. and Lysando AG Bring Partnership to the Next Level With Ownership Participations in Each Other’s Companies2.8.2021 08:00:00 CEST | Press release
South Korean KOSDAQ listed AMICOGEN Inc. will become the latest shareholder in Lysando AG. The transaction includes an acquisition of shares, a cash contribution to Lysando and a share package to Lysando into AMICOGEN. The deal means an 8% participation of AMICOGEN into Lysando and 2.69% in shares for Lysando into AMICOGEN. The transactions were negotiated with a 300 Mio. Euro evaluation of Lysando. Other shareholders of Lysando continue to be majority owner and Chairman of the Board Markus Graf Matuschka von Greiffenclau, Bangkok based SCG, and Lysando’s employees. The companies have already a productive partnership in place, based on Lysando´s leading platform Artilysin®. It is a globally patented, sustainable and highly effective technology, fighting resistance of microbes, as an alternative to antibiotics and other antimicrobial treatments. „I am very happy and proud to welcome AMICOGEN as a new shareholder of Lysando. AMICOGEN being such a strong and successfully operating CDMO, A
Ipsen and Exicure Enter Into Exclusive Collaboration Targeting Rare Neurodegenerative Disorders2.8.2021 07:00:00 CEST | Press release
Regulatory News: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210801005028/en/ Disclaimer: Intended for international media and investor audiences only Ipsen (Euronext: IPN; ADR: IPSEY) and Exicure Inc. (NASDAQ: XCUR) have signed an exclusive collaboration agreement to research, develop, and commercialize novel Spherical Nucleic Acids (SNAs) as potential investigational treatments for Huntington’s disease and Angelman syndrome. Oligonucleotides are synthetic structures of nucleic acids that can be used to modulate gene expression via a range of processes, including gene activation, inhibition, and splice-modulation. These molecules have demonstrated potential in many different therapeutic areas.1 Achieving efficient oligonucleotide delivery to target organs and tissues, including the brain, remains a major limitation to their use.1,2 Exicure’s SNAs provide distinct chemical and biochemical properties to oligonucleotides. I
Arqit Releases QuantumCloud™ to Deliver Stronger, Simpler Encryption2.8.2021 06:20:00 CEST | Press release
Arqit Limited (“Arqit”), a leader in quantum encryption technology announces the release of the first version of its service, QuantumCloud™ 1.0. This Platform‑as‑a‑Service software enables customers to secure the communications channels and data of any cloud, edge or end-point device. The service combines transformational and unique advances in both quantum and classical cryptography. The release of QuantumCloud™ 1.0 allows customers to secure devices globally by providing a strong device authentication capability, over which is layered the agreement of symmetric keys between authenticated and authorised devices. Importantly, since there are no asymmetric cryptographic primitives used within the trustless key agreement protocol, the keys can be regarded as safe against future attack using Shor’s algorithm running on a quantum computer. A range of other features will be added in future quarters, culminating in the launch of Arqit’s proprietary quantum satellites, which is targeted for 2
Arqit Registration Statement Related to Business Combination With Centricus Acquisition Corp. Declared Effective By SEC2.8.2021 06:04:00 CEST | Press release
Arqit Limited (“Arqit”), a leader in quantum encryption technology today announced the Registration Statement on Form F-4 in connection with the previously announced business combination (the “Business Combination”) with Centricus Acquisition Corp. (“Centricus”) (Nasdaq: CENHU, CENH, CENHUW), a publicly-listed special purpose acquisition company, has been declared effective by the Securities and Exchange Commission (the “SEC”). Upon closing, the ordinary shares and warrants of Arqit Quantum Inc., a company formed for purposes of completing the Business Combination, will be listed on NASDAQ under the new ticker symbols “ARQQ” and “ARQQW.” The boards of directors of Arqit and Centricus have unanimously approved the Business Combination, and Centricus has set 9:00 a.m. ET on August 31, 2021 as the time and date for an extraordinary general meeting of shareholders to approve the proposals associated with the Business Combination. The proxy statement/prospectus contains important informatio
Takeda Receives Decision by the Irish Tax Appeals Commission Relating to Tax Assessment on Break Fee Shire Received from AbbVie2.8.2021 01:30:00 CEST | Press release
Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) (“Takeda”) today announced the receipt of a decision by the Irish Tax Appeals Commission on July 30, 2021 (IST) to uphold the Irish Revenue Commissioners’ position related to the treatment of a break fee received by Shire plc (“Shire”) in October 2014 from AbbVie Inc. (“AbbVie”). Shire was acquired by Takeda in January 2019. Takeda intends to challenge this outcome through all available legal means including appealing the decision to the Irish courts. On November 28, 2018, Shire received a tax assessment from the Irish Revenue Commissioners for 398 million EUR. This assessment sought to tax a 1,635 million USD break fee Shire received from AbbVie in connection with the terminated offer to acquire Shire made by AbbVie in 2014. Takeda appealed this assessment, and in late 2020 a hearing took place before the Irish Tax Appeals Commission. While Takeda is continuing to assess the substance of the decision, the company will record a
Square, Inc. Announces Plans to Acquire Afterpay, Strengthening and Enabling Further Integration Between its Seller and Cash App Ecosystems1.8.2021 23:48:00 CEST | Press release
Square, Inc. (NYSE: SQ) and Afterpay Limited (ASX: APT) today announced that they have entered into a Scheme Implementation Deed under which Square has agreed to acquire all of the issued shares in Afterpay by way of a recommended court-approved Scheme of Arrangement. The transaction has an implied value of approximately US$29 billion (A$39 billion) based on the closing price of Square common stock on July 30, 2021, and is expected to be paid in all stock. The acquisition aims to enable the companies to better deliver compelling financial products and services that expand access to more consumers and drive incremental revenue for merchants of all sizes. The closing of the transaction is expected in the first quarter of calendar year 2022, subject to the satisfaction of certain closing conditions outlined below. “Square and Afterpay have a shared purpose. We built our business to make the financial system more fair, accessible, and inclusive, and Afterpay has built a trusted brand align