Piper Sandler Advises PTTGC on Acquisition of Allnex from Advent
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MINNEAPOLIS — Piper Sandler & Co. chemicals & products financial investment banking group (The Valence Group) revealed today that it has actually recommended PTT Global Chemical Public Business Limited (“PTTGC”) on its acquisition of Allnex, a leading international specialized chemical business concentrated on commercial covering resins, from Development International for a business worth of €4.0 billion (c. U.S. $4.75 billion). Business has incomes of around €2 billion, EBITDA margin of 17-19%, and a worldwide production network of 33 cutting edge making websites in 18 nations, 23 research study and innovation centers, and around 4,000 staff members worldwide. Allnex was initially formed from the mix of Cytec Finishing Resins and Nuplex. The biggest share of its production network remains in Asia and home office remains in Frankfurt, Germany.
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The acquisition of Allnex goes through regulative approvals and is anticipated to close in 4th quarter 2021.
Piper Sandler functioned as unique monetary consultant to PTTGC on the acquisition of Allnex.
PTT Global Chemical Business Limited is a Bangkok, Thailand headquartered international chemical business with varied and thorough petrochemical companies, consisting of production and circulation of upstream, intermediate and downstream petrochemical items. PTTGC is noted on The Stock market of Thailand and has incomes going beyond U.S. $10 billion. PTT Public Business Limited, the Thai state (51% owned) incorporated energy and petrochemical business, and a Fortune International 500 business, is the significant investor and will supply financial obligation funding.
Allnex is the international leader in commercial covering resins, crosslinkers and ingredients. The business is acknowledged as a specialized chemicals leader, using a comprehensive series of items, consisting of ingenious liquid resins and ingredients, radiation-cured and powder covering resins for usage on wood, metal, plastic and lots of other surface areas. Business has strong positions in the automobile, commercial, marine, ornamental and product packaging markets, in addition to in specialized and protective finishes and serves clients in more than 100 nations.
Established in 1984, Development International has actually purchased over 375 business throughout 42 nations, and since March 31, 2021, had U.S. $75 billion in possessions under management. With 14 workplaces in 11 nations, Development has actually developed a worldwide incorporated group of over 240 financial investment specialists throughout The United States and Canada, Europe, Latin America and Asia. The company concentrates on financial investments in 5 core sectors, consisting of company and monetary services; health care; commercial; retail, customer and leisure; and innovation.
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Jobber Wiki author Frank Long contributed to this report.