Sagard, Euromezzanine and Management acquired Safic-Alcan, a distributor of specialty chemical products, from Parquest Capital
The management team of Safic-Alcan, together with the private equity funds Sagard and Euromezzanine, just concluded the acquisition of their company from Parquest Capital.
Safic Alcan ranks among the leaders in Europe for the distribution of specialty chemical products.
Through this operation, Safic-Alcan’s management gains the majority control of the company.
Société Générale Capital Partners (SGCP) also joined Sagard and Euromezzanine among the ranks of Safic-Alcan’s financial partners.
This operation constitutes a new phase in the development of Safic-Alcan, which was majority owned by Parquest Capital since end of 2007 in a LBO carried out alongside the
management team. During this period, Safic-Alcan experienced a significant growth, exceeding the objectives of its initial project, with revenues going from 250 M€ to nearly 400 M€, both through internal growth and build-ups.
Martial Lecat, CEO of Safic-Alcan, declared: “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”.
Denis Le Chevallier (Parquest Capital) declared: “We are very happy with the entrepreneurial success story we shared with management, as well as for the new chapter that is opening in the continuing independent development of Safic-Alcan”.
The financing structured for the acquisition was subscribed by HSBC and Natixis, both acting as a bookrunner, Natixis being also coordinator of the financing. Before the launch of the syndication, Société Générale joined HSBC and Natixis as a Senior Mandated Lead Arranger.
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 400 M€ of revenues in 2014. The company is led by Martial Lecat, Philippe Combette and Jean-Michel Guyon.