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Clariant Reaches Deal to Divest Pigments Business

Wednesday, June 16, 2021

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Swiss specialty chemicals company Clariant has announced that it has reached definitive agreements for divesting its Pigments business to a consortium of Heubach Group and SK Capital Partners at an enterprise value of CHF 805 million to CHF 855 million ($895.8 million to $951.5 million).

At the time of closing the transaction, Clariant will reinvest to become a 20% shareholder alongside Heubach and SK Capital in the ultimate holding company.

The combined business will then be a global pigments entity with approximately 3,000 employees estimated to generate more than 900 million euros in annual sales and with service and production capabilities across the globe, Clariant noted.

Clariant

Swiss specialty chemicals company Clariant has announced that it has reached definitive agreements for divesting its Pigments business to a consortium of Heubach Group and SK Capital Partners at an enterprise value of CHF 805 million to CHF 855 million ($895.8 million to $951.5 million).

The company said that the reinvestment enables Clariant to further benefit from the improving profitability of the Pigments business resulting from the efficiency program and to participate in the future growth opportunities as well as synergies of the combination with the Heubach Pigments business.

“We are pleased to announce the agreement with Heubach and SK Capital for the sale of our Pigments business. This achievement represents a final step in the divestment program and portfolio repositioning announced in July 2018,” said Conrad Keijzer, Chief Executive Officer of Clariant.

“We are confident that with Heubach and SK Capital, we have found the right owners of this business, for our customers, our colleagues, and our other stakeholders. Now our focus can fully be on growing revenue and profitability of our core Business Areas: Care Chemicals, Catalysis and Natural Resources.”

According to Clariant, the Pigments divestment concludes the company’s transformation into a high-value specialty chemical company with above-market growth, higher profitability, and stronger cash generation.

The proceeds of the Pigments divestment will be used to invest into growth projects within the core business areas, execute the strategy along sustainability and innovation, fund the performance improvement programs as well as strengthen Clariant’s balance sheet and fund the reinvestment into the Clariant-Heubach combined Pigments business.

The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the first half of 2022. The share of the participation in Infraserv Höchst, Germany, attributable to Clariant’s Pigments business is not part of this transaction.

   

Tagged categories: Asia Pacific; Business matters; Clariant; EMEA (Europe, Middle East and Africa); Good Technical Practice; Latin America; Mergers; North America; Pigments; Z-Continents

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