Clariant sells non-core operations

Hamish Champ

Published: January 2, 2013 6:00 am ET

Related to this story

Topics Materials, Mergers & Acquisitions, Suppliers

MUTTENZ, SWITZERLAND (Jan. 2, 10:30 a.m. ET) — Clariant, the Swiss-based specialty chemicals group, has sold off a number of its non-core operations to a U.S. private equity firm for 502 million Swiss francs ($550 million).

Hariolf Kottmann, Clariant’s chief executive, said the sale of the group’s textile chemicals, paper specialties and emulsions businesses to SK Capital marked “a significant milestone in the execution of [our] profitable growth strategy, after the acquisition of Süd-Chemie in 2011.”

Kottmann added: “I am pleased that we are able to execute this divestment faster than originally expected. By the end of 2013, Clariant will be an even more profitable company than today, generating a majority of sales in non-cyclical growth businesses.”

The three businesses were expected to generate 1.2 billion francs ($1.31 billion) in sales in 2012, around 15 percent of Clariant’s total sales, and estimated earnings before interest, tax, depreciation and amortization (Ebitda) of 80 million francs ($87.7 million).

Barry Siadat, a managing director at SK Capital, said his firm was delighted to partner with the management and employees of the three businesses, “to build upon their strong technology, brand, and leading market positions to more efficiently serve their large and growing global markets and customers.

“We believe these businesses provide an attractive platform to capitalize on their overlaps in technology, manufacturing, supply chain and logistics.”

SK Capital specializes in investments in the specialty materials, chemicals and healthcare sectors.


Comments

Clariant sells non-core operations

Hamish Champ

Published: January 2, 2013 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Universal Polymer beefing up capabilities through acquisition

July 29, 2014 12:04 pm ET

Universal Polymer & Rubber Ltd. is growing again and adding to its capabilities, this time via another acquisition and a plant expansion.    More

Image

Reynolds considering sale of Closure Systems International unit

July 29, 2014 10:32 am ET

Packaging giant Reynolds Group Holdings Ltd. has put its closures business under review.    More

Image

Carbon black supplier Orion begins trading on NYSE

July 29, 2014 11:29 am ET

Orion Engineered Carbons S.a.r.l. has priced the initial public offering of 19.5 million common shares at a price to the public of $18 per share.    More

Image

Dow sees solid second quarter performance

July 29, 2014 11:19 am ET

Dow Chemical Co. has reported its second quarter figures, with its seventh consecutive quarter of growth, according to the company.More

Image

Evonik sells polyimide foams operation to Boyd

July 29, 2014 10:46 am ET

Modesto, Calif.-based Boyd Corp., a manufacturers of specialty material and sealing agents, has purchased Evonik Industries’ Solimid...    More

Market Reports

Plastics Recyclers Data Report & Directory

This exclusive MS Excel database contains all the companies from Plastics News' ranking of top North American Recyclers and Brokers by reprocessed volume and also includes a directory with materials processes, services offered and company contact information. Data is based on primary research by PN editorial staff.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events