January 22 2015, David R Brown
Management become majority shareholders at Safic-Alcan following buy-out of Parquest Capital
The management team of Safic-Alcan, together with the private equity funds Sagard and Euromezzanine, have announced the acquisition of the company from Parquest Capital. Safic Alcan ranks among the leaders in Europe for the distribution of specialty chemical products. Safic-Alcan management are now the majority shareholders in the company.
This operation is a big step for Safic-Alcan in that it enables managers, who are heavily investing in the company's capital, to gain the control of the group
Martial Lecat
CEO of Safic-Alcan
Parquest Capital had taken a majority share in the company at the end of 2007 in a LBO carried inconjunction with the management team. During this period, Safic-Alcan experienced ‘significant growth’, exceeding the objectives of its initial project, with revenues going from €250M to nearly €400M, both through organic growth (new distribution contracts and market share gains, greenfield development in Eastern Europe markets) and acquisitions (Eggar, UK in 2008, Interplast, Turkey in 2011 and Necarbo, Benelux in 2012).
Martial Lecat, CEO of Safic-Alcan said, “We are delighted by the arrival of Sagard and Euromezzanine, two long-term shareholders, within our capital. They will enable us to continue to develop the group with serenity, through external growth, as well as through internal growth. This operation is also a big step for Safic-Alcan in that it enables managers, who are heavily investing in the company's capital, to gain the control of the group and thereby to reaffirm its independence”.
Antoine Ernoult-Dairaine (Sagard) and Thierry Raiff (Euromezzanine) added, “We are happy to provide Safic-Alcan with long-term financial means for its development. We have a great confidence in the management team and we fully subscribe to their ambition to reaffirm the European leadership of Safic-Alcan on its various lines of business”.
Société Générale Capital Partners (SGCP) also joined Sagard and Euromezzanine among the ranks of Safic-Alcan's financial partners.
About Safic-Alcan
Safic-Alcan is one of the major European players in the distribution of specialty chemical products, more specifically within the fields of rubber products, coatings, pharmaceuticals and cosmetics.
The Group benefits from a direct presence in the major countries of the European Union, as well as in Turkey and China, with notably strong positions in France, Spain, the UK, Germany, Benelux, and with an increasing presence in Eastern Europe. Safic-Alcan posted nearly €400M of revenues in 2014. The company is led by Martial Lecat, Philippe Combette and Jean-Michel Guyon.
Source(s): Safic-Alcan Press Release
Further Information
Visit: http://www.safic-alcan.com