26 Sep 2018
Global specialty chemicals leader Perstorp announces new investors to accelerate the next stage of growth
- Perstorp will be transferred from PAI Europe IV fund to a new fund managed by PAI Partners with Landmark Partners as lead investor, alongside other co-investors; PAI Partners will reinvest significantly in the transaction
- In addition to the transfer, Landmark Partners and its co-investors have committed c. EUR 130 million to Perstorp for growth opportunities
Malmö September 26, 2018 - PAI Partners today announces the transfer of their interest in Perstorp, a global leader in specialty chemicals, from PAI Europe IV to a new fund managed by PAI Partners and backed by Landmark Partners and other co-investors. As a part of the deal, the investors of the new fund have agreed to commit c. EUR 130 million for investment activities to further advance Perstorp’s growth strategy. The terms of the transaction were not disclosed.
Perstorp is a world leader in specialty chemicals and for over 135 years, this expertise has been used to pioneer the development of highly innovative products that advance everyday life across the globe. Perstorp employs 1,500 people across manufacturing units in Asia, Europe and North America. In 2017, the Company’s sales amounted to SEK 13.6 billion, and EBITDA excluding non-recurring items increased by 20 percent to record-high SEK 2.1 billion. The positive development continued in 2018, with LTM EBITDA as at 30 June 2018 amounting to SEK 2.3 billion.
Charles Tingue from Landmark Partners commented: “Perstorp is an outstanding company with strong market positions, solid growth prospects and an excellent management team. This is an exciting opportunity and we are committed to supporting the growth strategy together with PAI Partners and the dedicated management team at Perstorp.”
Fabrice Fouletier at PAI Partners commented: “This transaction represents a new phase of the development of Perstorp, with additional financial means to support its future development. We are excited to remain a shareholder in Perstorp and help the company reach a new stage of its development alongside its management team.”
Jan Secher, President and CEO of Perstorp, commented: “We are delighted that our focus on commercial and operational excellence has delivered strong results, attracting new quality investors. We have progressively enhanced profitability and deleveraging, resulting in the recent upgrade by S&P, and we are now ready to take the next step. We look forward to capturing future growth opportunities to advance our position as a global leader in specialty chemicals.”
Perstorp Holding AB
SE-211 20 Malmö
+46 435 380 00
Notes for editors
A global leader in high growth niches
The Perstorp Group, a trusted world industrial leader, places focused and market-driven innovation at your fingertips. Our culture of performance builds on 130 years of experience and represents a complete chain of solutions in organic chemistry, process technology and application development. As the global leader in high growth niches, such as powder and UV cured coatings, plasticizers, synthetic lubricants and grain preservation, we are committed to develop products providing essential properties to enhance the quality, performance and profitability of our customers’ products and processes. As we look to the future, we strive for the development of smarter and safer products and sustainable processes that reduce environmental impact and create real value in end-products. Perstorp has approximately 1,600 employees and manufacturing units in Asia, Europe and North America. Sales in 2016 amounted to more than SEK 11,3 billion. Discover your winning formula at www.perstorp.com.
PAI Partners is a leading European private equity firm with offices in Paris, London, Luxembourg, Madrid, Milan, Munich, New York and Stockholm. PAI manages €12.3 billion of dedicated buyout funds. Since 1994, the company has completed 68 transactions in 11 countries, representing €50 billion in transaction value. PAI is characterised by its industrial approach to ownership combined with its sector-based organisation. PAI Partners provide the companies they own with the financial and strategic support required to pursue their development and enhance strategic value creation. www.paipartners.com.
Landmark Partners specializes in secondary market transactions of private equity, real estate and real assets investments, with approximately $22.0 billion of committed capital as of December 31, 2017. Founded in 1989, the firm has one of the longest track records in the industry and is a leading source of liquidity to owners of interests in real estate, real asset, venture, mezzanine and buyout limited partnerships. Landmark has completed over 550 transactions and acquired over 2,100 partnership interests, managed by over 750 general partners, as of September 30, 2017. Landmark Partners has more than 100 professionals across four offices in Boston, London, New York and Simsbury, Connecticut. www.landmarkpartners.com