Acquisition of ParexGroup alongside CVC
FR
Sycomore Corporate Finance acted as exclusive financial adviser to ParexGroup and its management
Through this acquisition, CVC wants to strengthen the development of ParexGroup, particularly by supporting its geographic expansion, its growth plan and the development of new innovative products.
The transaction also offers an improved financial structure that will give the Company flexibility to accelerate its development on a worldwide level.
Materis will use the proceeds of the disposal to partially de-leverage.
Rationale
Founded in 1978, by Lafarge and since 2001 part of Materis, ParexGroup has grown successfully with a business model based on specialization, international development, organic growth and selective acquisitions. With revenues of €755m and EBITDA of €105m in 2013, ParexGroup is one of the world leaders in the construction chemicals industry, focused on ready to use specialty dry mix solutions.
ParexGroup is strong of 3,550 colleagues, 61 production sites in 21 countries, 9 R&D laboratories and has strong presence in Western Europe, Asia Pacific, South and North America, North Africa and the Middle East and historically demonstrated strong growth in emerging markets now accounting for 48% of revenues.
Founded in 1981, CVC is one of the world’s leading private equity and investment advisory firms. CVC employs over 420 people throughout Europe, Asia and the US and manages capital on behalf of over 300 institutional, governmental and private investors worldwide. Over the years, CVC has secured commitments of more than $71bn in funds from investors (including CVC Credit Partners) and has completed over 300 investments in a wide range of industries and countries across the globe. For its European funds, the target minimum equity investment is $150m and $50m for its Asian funds.