Syntagma Capital Enters Into Exclusive Negotiations to Carve out a Significant Part of Imerys’ Business Serving the Paper Markets for an Enterprise Value of €390m

BRUSSELS–()–Syntagma Capital announces today that it has entered into exclusive negotiations to acquire certain Imerys assets that produce kaolin, ground calcium carbonate (“GCC”), precipitated calcium carbonate (“PCC”) and talc primarily used for paper, as well as the pulp, cardboard, packaging, ceramics and construction markets for an enterprise value of €390 million, including a gain based on future business performance. These activities are operated by approximately 950 employees at 24 plants, 7 distribution terminals and 2 R&D centers in Europe, America and Asia. In total, these activities accounted for approximately €400 million in sales in 2021.

The proposed transaction, which is subject to the satisfaction of customary closing conditions, including works council information and consultation and other regulatory approvals, is expected to be completed by the end of the first half of 2023.

“Syntagma is excited about the opportunity to invest in Business, a global leader serving critical customer needs in a wide range of end markets. This business has been a core part of Imerys for many years and we appreciate Imerys’ confidence in our ability to drive the business forward and deliver a transaction that is timely for all stakeholders. Syntagma looks forward to continuing the close collaboration with Imerys, who will remain a long-term partner, to grow the business as a successful independent company. This transaction reflects Syntagma’s strategy of acquiring businesses that will benefit from new ownership to drive the next area of ​​growth,” said Sebastien Kiekert Le Moult, Managing Partner of Syntagma. “Our extensive carve-out experience and ability to manage complex situations confirm Syntagma as the preferred partner for large corporations in complex cross-border carve-out transactions.”

Alessandro Dazza, CEO of Imerys, said: “In Syntagma, we have found a partner who shares Imerys’ values ​​and passion for providing mineral solutions in a responsible manner. We are confident that our employees, customers and the business in general will prosper and develop under the new ownership. I would like to thank the management, operations and function teams for their excellent work in building this business over the years. I know they will continue to deliver excellent results in the future as well.”

“The Syntagma team has extensive experience investing in and managing complex, global materials and industrial businesses. The business is an excellent platform with significant opportunities to grow,” said Frank Coenen, Partner at Syntagma. “We look forward to leveraging the company’s global presence, strong customer relationships, technical and R&D capabilities to accelerate its growth, both organically and through targeted M&A investments in product areas and geographies. key code. We are excited to invest in the business and look forward to working with the company’s management team, employees, customers and suppliers.”

The Syntagma team involved in the transaction included Sebastien Kiekert Le Moult (Managing Partner), Frank Coenen (Partner), Benjamin Dahan (Partner), Fabio Yamasaki (Vice President), Ludovic Ruffenach (Senior Partner), and Gabriele Lo Monaco (Associate). .

About Syntagma Capital

Syntagma invests in companies that can benefit from practical operational experience to accelerate growth and improve performance for all stakeholders. We are true operators with experience working and managing companies on a global scale, leveraging our internal resources to develop successful strategies, execute them to realize their full potential and create long-term sustainable value. Syntagma invests in and operates companies in a wide range of industries with a specific focus on the commercial, industrial, chemical and materials services markets, including manufacturing, distribution, transportation and logistics, equipment rental, metal services and other industries. Syntagma is committed to high ESG standards in all of its investments and is headquartered in Brussels, Belgium. For more information please visit: https://syntagmacapital.com

About Imerys

Imerys, the world’s leading provider of specialized mineral-based solutions to industry with €4.4 billion in revenue and 17,000 employees in 2021, offers high value-added functional solutions to a host of sectors, from process industries to consumer goods . The Group draws on its application understanding, technological know-how and materials science expertise to deliver solutions benefiting your mineral resources, synthetic minerals and formulations. Imerys solutions bring essential properties to customers’ products and their performance, including heat resistance, hardness, conductivity, opacity, durability, purity, lightness, filtration, absorption and water repellency. Water. Imerys is determined to develop responsibly, in particular by promoting the development of environmentally friendly products and processes. imerys.com

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