M&A Deal Summary

The Carlyle Group and HarbourVest Partners Acquire Nouryon

On March 27, 2018, private equity firms The Carlyle Group and HarbourVest Partners acquired chemicals company Nouryon from Akzo Nobel for 10.1B EUR

Acquisition Highlights
  • This is The Carlyle Group’s 12th and HarbourVest Partners’ 4th transaction in the Chemicals sector.
  • This is The Carlyle Group’s 5th and HarbourVest Partners’ 4th largest (disclosed) transaction.
  • This is The Carlyle Group’s 10th and HarbourVest Partners’ 7th transaction in the Netherlands.

M&A Deal Summary

Date 2018-03-27
Target Nouryon
Sector Chemicals
Buyer(s) The Carlyle Group
HarbourVest Partners
Sellers(s) Akzo Nobel
Deal Type Divestiture
Deal Value 10.1B EUR

Target

Nouryon

Amsterdam, Netherlands
Nouryon is a specialty chemical provider markets worldwide rely on essential chemistry in the manufacture of everyday products such as paper, plastics, building materials, food, pharmaceuticals, and personal care items. Nouryon is based in Amsterdam, Netherlands.

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Buyer(S) 2

Buyer

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 613 of 744
Sector (Chemicals) 12 of 13
Type (Divestiture) 63 of 72
Country (Netherlands) 10 of 13
Year (2018) 4 of 25
Size (of disclosed) 5 of 137
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-14 Greater China Intermodal Investments

Hong Kong, China

Greater China Intermodal Investments LLC is a maritime asset leasing company focused on industrial and intermodal assets related to and integral to growth in Greater China and the Asian region.

Sell $1.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-28 Brand Group Holdings

Lawrenceville, Georgia, United States

Brand Group Holdings Inc. is the $1.3 billion bank holding company for The Brand Banking Company, a full service bank serving the needs of individuals and businesses in Gwinnett County, Georgia and North Metro Atlanta. As of December 31, 2017, Brand had approximately $2.4 billion in total assets, approximately $1.9 billion in total loans (excluding mortgage loans held for sale) and approximately $1.9 billion in total deposits.

Sell $453M
Buyer

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 173 of 223
Sector (Chemicals) 4 of 6
Type (Divestiture) 11 of 13
Country (Netherlands) 7 of 7
Year (2018) 6 of 25
Size (of disclosed) 4 of 68
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-21 CRS Solutions

Houston, Texas, United States

CRS Solutions is a technology-enabled provider of comprehensive point-of-sale (“POS”) solutions to established single and multi-unit operators in the restaurant, retail, and other hospitality end markets. CRS delivers its highly customized front-of-the-house technology solutions through a recurring service and solutions model for merchants who have complex service needs. CRS Solutions was formed in 1972 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-10 Elara Caring

Dallas, Texas, United States

Elara Caring is a provider of home-based care, with a national footprint in the Northeast, Midwest, and Southwest. Elara Caring leads patients through the post-acute care journey by providing the appropriate level of care, delivered wherever our patients call home. The company’s intimate understanding of its patients’ needs allows it to apply proprietary platforms to deliver proactive, customized care that improves quality of life and keeps patients in their homes. Elara Caring was founded in 1975 and is based in Dallas, Texas.

Buy -

Seller(S) 1

SELLER

Akzo Nobel

Amsterdam, Netherlands

Category Company
Founded 1646
Sector Chemicals
Employees35,700
Revenue 10.7B EUR (2023)
DESCRIPTION

Akzo Nobel is a producer of decorative paints, performance coatings and specialty chemicals. Akzo Nobel was founded in 1646 and is based in Amsterdam, the Netherlands.


DEAL STATS #
Overall 16 of 16
Sector (Chemicals) 9 of 9
Type (Divestiture) 14 of 14
Country (Netherlands) 6 of 6
Year (2018) 1 of 1
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-27 V.Powdertech

Thailand, Thailand

V.Powdertech Co. Ltd. is a manufacturer of powder coatings, supplying a range of products for domestic appliances, furniture and general industrial applications, and currently employing more than 250 employees.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-18 Fabryo

Bucharest, Romania

Fabryo is a decorative coatings manufacturer in Romania, providing finishing and insulating materials. The company sell its products under brands such as savana, APLA, Innenweiss or Rost. Fabryo is based in Bucharest, Romania.

Buy -