Secondary: Capiton sells Prefere Resins Group to Silverfleet Capital
Berlin — The private equity company capiton AG sells its shares in Prefere Resins, one of the European market leaders for the production and distribution of phenolic resins, to Silverfleet Capital. In 2017, the approximately 320 employees of Prefere Resins generated sales of 222 million euros.
Prefere Resins is one of the European market leaders for the development, production and distribution of phenolic resins. The areas of application are many and varied; phenolic resins are used in the wood processing industry, in the insulation industry, in mechanical engineering and in the automotive industry, among others. In addition to its headquarters in Erkner near Berlin, Prefere Resins has subsidiaries in Austria, France, Great Britain, Poland and Romania, as well as two sites in Finland.
About the transaction In January 2014, capiton acquired the majority of shares in the Prefere Resins Group as part of a carve-out of the European phenolic resin activities from the Scandinavian chemical group Dynea. In 2016, capiton was already able to successfully implement a refinancing of the company. As part of this transaction, Intermediate Capital Group (“ICG”) acquired a minority interest in Prefere Resins and the management team increased its stake in the Company. Under the transaction now signed, capiton and ICG will sell all shares in Prefere Resins. The transaction is still subject to customary market conditions. The parties have agreed not to disclose the detailed terms of the transaction.
Consultant capiton AG:
Alantra (M&A, Debt Advisory)
BMH Bräutigam & Partner (Legal)
Deloitte (Commercial & Financial)
About capiton AG
capiton is an independent, owner-managed private equity company managing a total fund volume of € 1.0 billion. Currently, 11 medium-sized companies are in capiton AG’s investment portfolio. capiton accompanies management buy-outs and growth financing for established medium-sized companies as an equity partner.