Heubach and Sk Capital partner in acquisition of Clariant’s pigments business – the advisors
The Heubach Group, in partnership with Sk Capital, announced today a definitive agreement to acquire Clariant’s pigments business. The combined business will operate under the Heubach name, creating a global pigments leader generating more than EUR 900 million in annual sales.
The transaction values Clariant’s pigments business at approximately CHF 805 million, with additional consideration of CHF 50 million contingent on the 2021 financial performance of the business unit. As part of the transaction, Clariant will be reinvesting for a minority stake in the combined business, demonstrating its continuing commitment to the success of Clariant’s pigments business and the substantial growth opportunity in the combination with Heubach.
The Advisors
Lenz & Staehelin and Kirkland & Ellis acted as legal counsel to Heubach and SK Capital. Milbank acted as legal counsel to Heubach. The Valence Group of Piper Sandler & Co., Bofa Securities and Citi served as financial advisors. Committed financing for the transaction was provided by Bofa Securities and Citi.
Lenz & Staehelin team advising Heubach and SK Capital on this transaction is led by partner Tino Gaberthüel (corporate / m&a,pictured) and includes partners Stephan Erni (corporate / m&a), Beat Kühni (real estate), Marcel Tranchet (finance), Astrid Waser (competition) and Peter Ling (IP) as well as Iliana Djagova, Nicole Humbel, Eric Meier, Patrick Sattler, Xavier Grivel, Lisa Moser and Sven Infanger (all corporate and m&a), Hannes Kieser (finance), Sandro Travaglini (antitrust), Elena Furlanetto (employment/pension), Leo Rusterholz, and Nadja Flühler (both transitional services, IT) and Vera Vallone (IP).
Clariant:
Homburger acted as legal counsel to Clariant and Deutsche Bank served as Clariant’s financial advisor.
Homburger team is led by partners Frank Gerhard and Daniel Hasler (both pictured left) and includes lead associate Stefan Blunschi, associates Carlo Sulser, Marc Schamaun, Nicola Togni, junior associates Lars Göldi, Rafael Winter, Severin Egloff, Luzius Kaufmann and Urs Stürmer (all corporate / m&a), partners Marcel Dietrich, Richard Stäuber, counsel Andreas Burger, associates Allegra Arnold, Jonas Krull and Katharina Bratvogel (all competition), partner Reto Heuberger, associates Marc Vogelsang and Arbnor Sheholli (all tax), partner Gregor Bühler and associates Philippe Baumann and Daniel Lütolf (all IP / IT) as well as partner Jürg Frick (financing and investment products).
Closing of the transaction is subject to customary conditions and approvals and is expected to take place in the first half of 2022.
