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.
About Heubach Group
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
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
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
Bentley Systems Announces Seequent’s Acquisition of Imago3.8.2021 23:14:00 EEST | Press release
Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, today announced that its Seequent business unit has acquired Imago Inc, a developer of cloud-based software for the capture and management of geoscientific imagery. The acquisition will expand Seequent’s technology solutions portfolio while boosting cloud capabilities to help geoscientists and engineers solve earth, environment, and energy challenges. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210803006032/en/ Imago establishes a consistent process for capturing high-quality images, which integrate with existing workflows and allow the application of machine learning. Imago instantly displays machine learning insights together with images during interpretation and modeling. Imago’s on-screen masking and classification tools export data to train models. The Imago Cloud library of geology images provides rich information that supp
Riskified Ltd. Announces Closing of Initial Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares3.8.2021 23:10:00 EEST | Press release
Riskified Ltd. (“Riskified”), a fraud management platform enabling frictionless eCommerce, announced the closing of its initial public offering of 20,125,000 Class A ordinary shares on August 2, 2021, including the exercise in full by the underwriters of their option to purchase 2,625,000 additional shares of Class A ordinary shares, at a price of $21.00 per Class A ordinary share. The offering consisted of 19,925,000 Class A ordinary shares offered by Riskified and 200,000 Class A ordinary shares to be sold by one of Riskified’s existing shareholders. Riskified will not receive any proceeds from the sale of the shares by the selling shareholder. The gross proceeds to Riskified, before deducting underwriting discounts and commissions and offering expenses, were approximately $418 million. The Class A ordinary shares began trading on the New York Stock Exchange on July 29, 2021 under the ticker symbol “RSKD”. Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Credit Suisse Securiti
Andersen Global Expands into Puerto Rico with San Juan-Based Law Firm3.8.2021 16:30:00 EEST | Press release
Andersen Global extends its reach into the Puerto Rican market with San Juan-based law firm Casillas, Santiago & Torres, LLC (CST Law). Founded in 2011, CST Law is a full-service firm focusing on business and commercial law with capabilities in corporate, tax, commercial and employment law litigation, real estate, immigration, labor and employment law, employee benefits and government affairs. The firm covers a variety of industries such as retail, wholesale, real estate, manufacturing, tourism, financial services, technology, telecommunications and construction, providing legal services to a range of clients including major multinational companies. “Our firm has built long-lasting relationships with our clients through our commitment to transparency and quality of work we provide,” said Managing Partner Luis L. Torres. “As our clients’ operations continue to expand into multiple jurisdictions, their need for integrated and seamless services also increases. Our collaboration with Ander
IDEMIA Top Leader in NIST Flight Boarding Simulation Showcasing High Accuracy of Algorithms3.8.2021 16:30:00 EEST | Press release
IDEMIA, the global leader in augmented identity, announced today that the company ranked second for passenger identification in the latest testing by the National Institute of Standards (NIST), confirming that IDEMIA’s facial recognition technology and algorithms are among the most accurate, fair and consistent in market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210803005333/en/ Credits : IDEMIA The test focuses on ‘Identification for Paperless Travel and Immigration’ and is part of the ongoing Facial Recognition Vendor Test (FRVT) managed by NIST. The exercise simulated departing flights, populating galleries with photos of 420 arriving travelers at the airport, then measuring accuracy by running searches of photos at departure. IDEMIA’s technology conducted 536 simulated aircraft boardings, without experiencing a single false negative, which translates to a secure and frictionless boarding experience for passengers.
New Enhancements to OPEX® Sure Sort® Robotic Sorting System Expand Capabilities and Increase Productivity for Warehouse Automation Customers3.8.2021 16:10:00 EEST | Press release
OPEX® Corporation, a leading provider of innovative warehouse automation solutions worldwide, has made enhancements to one of its most popular products to better meet warehouse customers’ needs. First introduced in 2017, the Sure Sort® small-item robotic sorting system has revolutionized order fulfillment in e-commerce distribution centers worldwide due to its compact array of sort locations that can be scaled, sized, and customized in the small footprint of a single-pass put wall. Sure Sort quickly and accurately processes up to 2,400 items per hour with limited labor. Sure Sort easily directs a wide range of items, including cylindrical, clear, plastic bagged and blister pack items less than five pounds each. It can handle items as small as two inches in length and width and can support products as large as 15 inches long, 12 inches wide, and 6 inches high thanks to the new modifications OPEX just made. “Sure Sort previously only handled items four inches high,” said Monty McVaugh, M
New Members Have Joined HD-PLC Alliance to Accelerate the HD-PLC Advancement Towards a Global Power Line Communication Standard3.8.2021 16:00:00 EEST | Press release
HD-PLC Alliance (*1), Fukuoka, Japan (Alliance) announced that 4 newcomers has joined the alliance this year. The member list on Alliance website was updated as follows; MicroChip Technology as Supporter since July, is a leading provider of smart, connected and secure embedded control solutions. Its easy-to-use development tools and comprehensive product portfolio enable customers to create optimal designs which reduce risk while lowering total system cost and time to market. The company’s solutions serve more than 120,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. Microchip is headquartered in Chandler, Arizona. LVX Global, as Supporter since May, is an international technology solutions business that identifies, designs, delivers and manages high value, scalable, replicable social outcomes at the intersection of technology, engineering, and human behavioural science. Helvetia, as Standard since May, is a Japanes
SoftServe Opens New Office in Dubai3.8.2021 14:05:00 EEST | Press release
SoftServe, a leading global digital authority and consulting company, has opened a new office in Dubai as part of its initiative to support the rapidly expanding user base in the Middle East. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210803005011/en/ (Graphic: Business Wire) SoftServe has been supporting customers in the region since 2018, delivering solutions for large conglomerate customers in the retail, finance, and energy sectors. As a developing and dynamic hub for investment with a growing population and considerable opportunity for activity in the non-oil sectors, the Middle East plays a crucial role in SoftServe’s growth strategy. The new office is located at Building No. 16, Dubai Internet City, Dubai, United Arab Emirates. “We are excited to bring our expertise to meet the growing demand for software development and digital transformation in this region,” says Volodymyr Semenyshyn, Executive Vice President EM
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom