Lenz & Staehelin: SIKA sells MBCC admixture assets to Cinven

Sika has announced yesterday that it agreed to sell MBCC Group’s chemical admixtures assets in England, the USA, Canada, Europe, Australia, and New Zealand (Disposal Perimeter) to private equity firm Cinven. The divestment of the Disposal Perimeter is part of the required remedy process for the approval of Sika’s acquisition of MBCC Group. The British Competition and Markets Authority (CMA) has already approved Cinven as a suitable buyer of the Disposal Perimeter. The closing of the divestment is expected to take place in the first half of 2023. 

Cinven has a 40-year track record as an international investor with a growth-focused, long-term approach. It has significant industry expertise through its investments in specialty chemicals providers.

The Disposal Perimeter generated net sales of around CHF 920 million in 2022 and includes production sites and sales offices in 36 countries with more than 1,600 employees. The completion of the divestment of the Disposal Perimeter as well as Sika’s acquisition of MBCC Group are still subject to certain regulatory approvals. Together with MBCC Group, Sika expects to generate annual synergies of CHF 160 to 180 million. 

Lenz & Staehelin has advises Sika in this transaction. The key team comprises partner Tino Gaberthüel (corporate/m&a, pictured left) and associate Lukas Held (corporate/m&a, pictured right).