Bangkok\/ Frank\u00adfurt am Main \u2014 Advent Inter\u00adna\u00adtio\u00adnal (\u201cAdvent\u201d), one of the worl\u00add\u2019s largest and most expe\u00adri\u00aden\u00adced invest\u00adment compa\u00adnies, has announ\u00adced the sale of global leading synthe\u00adtic resin manu\u00adfac\u00adtu\u00adrer allnex Holding GmbH (\u201callnex\u201d) to PTTGC Inter\u00adna\u00adtio\u00adnal (Nether\u00adlands), a wholly owned subsi\u00addiary of PTT Global Chemi\u00adcal Public Company Limi\u00adted (\u201cPTTGC\u201d) head\u00adquar\u00adte\u00adred in Bang\u00adkok. The Frank\u00adfurt-based company is valued at around EUR 4 billion in the tran\u00adsac\u00adtion, which corre\u00adsponds to 12.2 times LTM\u2019s March 2021 EBITDA.<\/p>\n
allnex is a manu\u00adfac\u00adtu\u00adrer of synthe\u00adtic resins for the paint and coatings indus\u00adtry and offers a wide range of coating poly\u00admers and addi\u00adti\u00adves \u2014 inclu\u00adding powder resins, water-solu\u00adble indus\u00adtrial synthe\u00adtic resins, UV resins, synthe\u00adtic resin cross\u00adlin\u00adkers and addi\u00adti\u00adves for use on wood, metal, plas\u00adtics and other surfaces, for exam\u00adple. With sales of around 2 billion euros and appro\u00adxi\u00adm\u00adately 4,000 employees, the company is the market leader in resins for indus\u00adtrial appli\u00adca\u00adti\u00adons, inclu\u00adding in the auto\u00admo\u00adtive and pack\u00ada\u00adging indus\u00adtries. With its global produc\u00adtion network of 33 manu\u00adfac\u00adtu\u00adring sites and 23 rese\u00adarch and tech\u00adno\u00adlogy centers, allnex supports custo\u00admers around the world. The company has been a pioneer in sustainable inno\u00adva\u00adtions for the paint and coatings indus\u00adtry for over 70 years. Here, allnex focu\u00adses on envi\u00adron\u00admen\u00adtally friendly tech\u00adno\u00adlo\u00adgies, such as water-based resins or powder resins.<\/p>\n
With more than 30 successfully comple\u00adted tran\u00adsac\u00adtions, Advent is one of the most expe\u00adri\u00aden\u00adced private equity inves\u00adtors in the chemi\u00adcal indus\u00adtry. Advent acqui\u00adred the coating resins busi\u00adness from Cytec Indus\u00adtries in 2013 as part of a carve-out. Over the past eight years, Advent has estab\u00adlished the busi\u00adness as an inde\u00adpen\u00addent company under the name allnex and streng\u00adthe\u00adned its market posi\u00adtion through seve\u00adral acqui\u00adsi\u00adti\u00adons and orga\u00adnic growth. With the acqui\u00adsi\u00adtion of compe\u00adti\u00adtor Nuplex in 2016, allnex expan\u00added its busi\u00adness in growth markets and became the global market leader. With Adven\u00adt\u2019s support, the company has inves\u00adted signi\u00adfi\u00adcantly in growth, more than doubling the number of its employees, produc\u00adtion faci\u00adli\u00adties, rese\u00adarch and tech\u00adno\u00adlogy centers, and custo\u00admers. In total, Advent has allo\u00adca\u00adted more than \u20ac1.5 billion for growth.<\/p>\n
Ronald Ayles (photo), mana\u00adging part\u00adner and head of the global chemi\u00adcal indus\u00adtry prac\u00adtice at Advent Inter\u00adna\u00adtio\u00adnal.<\/strong>, said, \u201cOver the past eight years, we have guided the allnex manage\u00adment team from spin-off to global market leader\u00adship as a manu\u00adfac\u00adtu\u00adrer of indus\u00adtrial coating resins. Our heavy invest\u00adment in growth has fueled allnex\u2019s success \u2014 espe\u00adci\u00adally in envi\u00adron\u00admen\u00adtally friendly tech\u00adno\u00adlo\u00adgies. With PTTGC, we have now found the ideal part\u00adner to support the next phase of allnex\u2019s growth and conti\u00adnue the success story.\u201d<\/p>\n The new owner PTTGC is a subsi\u00addiary of PTT Group, Thai\u00adlan\u00add\u2019s largest energy company<\/strong><\/p>\n The Group opera\u00adtes inter\u00adna\u00adtio\u00adnally and is a Fortune 500 company. PTTGC produ\u00adces and distri\u00adbu\u00adtes basic petro\u00adche\u00admi\u00adcals and inter\u00adme\u00addia\u00adtes as well as chemi\u00adcal down\u00adstream products for the pack\u00ada\u00adging, textile and auto\u00admo\u00adtive indus\u00adtries, among others. In the past two years, the company ranked first in the \u201cChemi\u00adcals\u201d cate\u00adgory of the Dow Jones Sustaina\u00adbi\u00adlity Index.<\/p>\n PTTGC\u2019s goal is to streng\u00adthen its leading posi\u00adtion in the chemi\u00adcal busi\u00adness with envi\u00adron\u00admen\u00adtally friendly inno\u00adva\u00adtions and advan\u00adced tech\u00adno\u00adlo\u00adgies. The company is a long-term inves\u00adtor and will support allnex to expand its access to the Asia Paci\u00adfic (APAC) region, which offers great growth poten\u00adtial for the coatings indus\u00adtry. In addi\u00adtion, PTTGC will streng\u00adthen allnex\u2019s presence in growth markets and provide impro\u00adved access to raw materials.<\/p>\n \u201callnex is the global market leader in synthe\u00adtic resins for the paint and coatings indus\u00adtry. With its broad product port\u00adfo\u00adlio, stable earnings, and as a pioneer in green tech\u00adno\u00adlo\u00adgies, allnex is ideally posi\u00adtio\u00adned to bene\u00adfit from the three mega\u00adtrends in the indus\u00adtry: the incre\u00adasing demand for high-perfor\u00admance coating resins, the ongo\u00ading growth trend towards emer\u00adging markets, and the move towards sustainable coating solu\u00adti\u00adons. We look forward to lever\u00adaging this growth poten\u00adtial toge\u00adther with the allnex team.\u201d Advi\u00adsor Advent: Allen & Overy<\/strong> About Advent International<\/strong><\/p>\n Foun\u00added in 1984, Advent Inter\u00adna\u00adtio\u00adnal Corpo\u00adra\u00adtion is one of the worl\u00add\u2019s largest and most expe\u00adri\u00aden\u00adced private equity inves\u00adtors. The company has comple\u00adted over 375 private equity tran\u00adsac\u00adtions in 42 count\u00adries and mana\u00adges assets of \u20ac64 billion (as of March 31, 2021). With 14 offices in 11 count\u00adries, Advent has built a globally inte\u00adgra\u00adted team of more than 240 invest\u00adment profes\u00adsio\u00adnals in North America, Europe, Latin America and Asia. The company focu\u00adses on invest\u00adments in five core sectors, inclu\u00adding finan\u00adcial and busi\u00adness services, health\u00adcare, chemi\u00adcals and indus\u00adtri\u00adals, retail, consu\u00admer products and leisure, and technology.<\/p>\n Advent has inves\u00adted in over 30 compa\u00adnies in the chemi\u00adcal indus\u00adtry in recent years. Examp\u00adles include R\u00f6hm, one of the global market leaders in methacry\u00adlate chemis\u00adtry, allnex, a leading global supplier of synthe\u00adtic resins for the paint and coatings indus\u00adtry, and Oxea, a leading supplier of oxo alco\u00adhols and oxo deri\u00adva\u00adti\u00adves. Advent has also inves\u00adted in compa\u00adnies such as VIAKEM, a leading manu\u00adfac\u00adtu\u00adrer of fine chemi\u00adcals, and GTM, a trans\u00adna\u00adtio\u00adnal distri\u00adbu\u00adtor of chemi\u00adcal raw mate\u00adri\u00adals in Latin America.<\/p>\n After 35 years dedi\u00adca\u00adted to inter\u00adna\u00adtio\u00adnal invest\u00adment, Advent Inter\u00adna\u00adtio\u00adnal Corpo\u00adra\u00adtion remains commit\u00adted to working with manage\u00adment teams to deli\u00adver sustainable reve\u00adnue and profit growth for its port\u00adfo\u00adlio compa\u00adnies. www.adventinternational.de<\/p>\n","protected":false},"excerpt":{"rendered":" Bangkok\/ Frank\u00adfurt am Main \u2014 Advent Inter\u00adna\u00adtio\u00adnal (\u201cAdvent\u201d), one of the worl\u00add\u2019s largest and most expe\u00adri\u00aden\u00adced invest\u00adment compa\u00adnies, has announ\u00adced the sale of global leading synthe\u00adtic resin manu\u00adfac\u00adtu\u00adrer allnex Holding GmbH (\u201callnex\u201d) to PTTGC Inter\u00adna\u00adtio\u00adnal (Nether\u00adlands), a wholly owned subsi\u00addiary of PTT Global Chemi\u00adcal Public Company Limi\u00adted (\u201cPTTGC\u201d) head\u00adquar\u00adte\u00adred in Bang\u00adkok. The Fran\u00adk\u00ad\u00adfurt-based company is [\u2026]<\/p>\n","protected":false},"author":2,"featured_media":37803,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"footnotes":""},"categories":[886,1364,1366,1367,1368,1369,1373],"tags":[1457,1458,1459,1460],"class_list":["post-40318","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-en","category-featured-en","category-news-en","category-lawyers-tax-advisors-auditors-en","category-lawyers-tax-consultants-auditors","category-investors","category-venture-capital-en","tag-chemistry","tag-synthetic-resins","tag-advent-en","tag-allnex-en"],"yoast_head":"\n
\nThe sale of allnex is expec\u00adted to close in Q4 2021, subject to regu\u00adla\u00adtory approvals.<\/p>\n
\nLed by part\u00adner Dr. Helge Sch\u00e4\u00adfer (Hamburg), toge\u00adther with part\u00adners Dr. Michiel Huizinga (Frank\u00adfurt) and Gordon Milne (London) as well as coun\u00adsel Alex\u00adan\u00adder W\u00fcpper (Frank\u00adfurt) and senior asso\u00adciate Monika Przy\u00adgoda (London, all Corporate\/M&A\/Private Equity).
\nThe entire team included well over 100 lawy\u00aders from a wide variety of prac\u00adtice groups in 18 Allen & Overy offices worldwide.<\/p>\n