Advisor to seller
‘Project Coating’ has more than 50 years of experience in the development, production and sale of coatings for steel protection.
In 2017, the management of Project Coating had initiated the capitalisation on international growth markets while continuing to reinforce its local market share. By strengthening the assets, intangibles and R&D capabilities, Project Coating was ready to pursue growth in the future.
Considering the objective of the shareholders to exit the company, Clairfield Benelux acted as financial advisor in the sales process. The buyer is a Belgian private equity fund that created a NewCo to execute the transaction. The shareholders of Picasso reinvested.
Team members responsible for this transaction
Other Industry related transactions
Advisor to seller
was acquired by
Precision Tubing Lichtervelde (PTL) is an integrated and circular plant that processes scrap aluminium into precision welded tubes for among others the HVAC, gardening and scaffolding industries. Clairfield International acted as exclusive financial advisor to the shareholders of PTL on the sale to Aurelius Group.
Advisor to buyer
Blanchon Group, established in 1832, is a French market leader in the development, manufacturing and marketing of an extensive portfolio of technical varnishes and innovative paints, both for indoor and outdoor use. With nearly 7,000 references across 55 countries on the 5 continents, the group already has an important international track record. Blanchon group is recognized for its international expertise, advanced industrial tools and high qualitative supply chain. Blanchon Group is a portfolio company of the French private equity house Abénex that accompanied the transaction process.
Debal Finance is a Belgian family-owned company generating EUR 15m turnover and better known under the high-quality brand ‘Ciranova’. The company specializes in protective and decorative coatings for parquet and wood floorings for more than 90 years, dedicated to professional and industrial customers. Through the acquisition of Ciranova, Blanchon Group underpins its ambition to become a European leader in protection, maintenance, renovation and decoration of wood and vinyl flooring and surfaces. This acquisition allows Blanchon Group to strengthen their R&D capabilities and increase international presence. The acquisition will enable Blanchon Group to achieve nearly EUR 100m revenue in 2021, and, therefore, become a leading European player in this niche market.
Clairfield International acted as the financial advisor to Blanchon Group. Hans Buysse, Managing Partner, and Laurenz Van de Moortel, Associate: “We became aware of the international growth plans of Blanchon through the Clairfield International partnership and the effort of our French Clairfield colleagues. We are very pleased having successfully advised Blanchon Group in their search for a unique strategic partner in Belgium. Thanks to our international partnership and extensive experience in M&A, we were able to effectively advise this French group and its owner Abénex on this Belgian transaction. The team’s knowledge, insight and continuous effort have supported this successful closing.”
Advisor to buyer
Acquired a majority stake in
Ajinomoto OmniChem is the Belgian subsidiary of the Japanese multinational company Ajinomoto. Ajinomoto is a global manufacturer of quality seasonings, processed foods, beverages, amino acids, pharmaceuticals and speciality chemicals. Ajinomoto OmniChem manufacture and sell pharmaceutical intermediates and APIs globally.
Agro2Agri is a Spanish agrochemical consortium previously owned by Grupo Dadelos, comprised of three subsidiaries: Dadelos Agrosolutions, AgriTecno Fertilizantes and Agrigentum. Ajinomoto OmniChem previously owned a 4.5% stake in all three subsidiaries and sought to acquire a majority stake in Agro2Agri by raising their stakes in the subsidiaries.
Ajinomoto OmniChem aimed to expand their agro business by entering the rapidly growing bio stimulants market. Additionally, the European market proved to be a valuable fit as it represents 40% of the global market and is the fastest-growing region. Ajinomoto OmniChem will take advantage of the joint development of new products and customers, and will further establish their speciality division in the European agrochemicals market.
Clairfield Benelux advised private equity investor Intersaction on the arrangement of bank facilities for the buy out of A. Foeth B.V. A. Foeth B.V. is active in the purchase and sale of used process machinery (mainly stainless steel), serving the chemical, food and pharmaceutical industries in Europe and beyond. The machines are mainly used for crushing, mixing and sieving of raw materials.
Intersaction acquired Flexoclean. Clairfield Benelux advised Intersaction on the arrangement of bank facilities for the buy out of Flexoclean. Intersaction is a private equity investor and Flexoclean is a specialist provider of cleaning products and services to printing companies active in the markets of corrugated cardboard, flexible packaging and labels.