M&A Deal Summary

Element Solutions Acquires Coventya

On June 11, 2021, Element Solutions acquired chemicals company Coventya from Silverfleet Capital for 420M EUR

Acquisition Highlights
  • This is Element Solutions’ 6th transaction in the Chemicals sector.
  • This is Element Solutions’ 4th largest (disclosed) transaction.
  • This is Element Solutions’ 1st transaction in France.

M&A Deal Summary

Date 2021-06-11
Target Coventya
Sector Chemicals
Buyer(s) Element Solutions
Sellers(s) Silverfleet Capital
Deal Type Add-on Acquisition
Deal Value 420M EUR

Target

Coventya

Villeneuve-la-Garenne, France
Coventya develops and supplies specialty chemicals for surface finishing in over 40 countries and 4 continents. Coventya is based in Villeneuve-la-Garenne, France.

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Buyer(S) 1

Buyer

Element Solutions

Fort Lauderdale, Florida, United States

Category Company
Founded 1785
Sector Chemicals
Employees5,300
Revenue 2.3B USD (2023)
DESCRIPTION

Element Solutions is a diversified producer of high-technology specialty chemical products and provider of technical services. Element Solutions was incorporated in 1785 and is based in Fort Lauderdale, Florida.


DEAL STATS #
Overall 10 of 11
Sector (Chemicals) 6 of 7
Type (Add-on Acquisition) 7 of 8
Country (France) 1 of 1
Year (2021) 2 of 2
Size (of disclosed) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-05 H K Wentworth

Ashby-de-la-Zouch, United Kingdom

H K Wentworth is a manufacturer of electro-chemicals for the electronics, LED, automotive and industrial manufacturing industries. HKW offers an array of products, including thermal management materials, conformal coatings, encapsulation resins, electronic cleaning solutions, and general maintenance products with a presence in over 55 countries. H K Wentworth was founded in 1941 and is based in Ashby de la Zouch, United Kingdom.

Buy $60M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-27 HSO Herbert Schmidt

Solingen, Germany

HSO Herbert Schmidt develops and manufactures highly-specialized solutions for decorative and functional surface finishing with a focus on environmentally sustainable products, especially in the field of Plating on Plastics. HSO Herbert Schmidt was founded in 1936 and is based in Solingen, Germany.

Buy -

Seller(S) 1

SELLER

Silverfleet Capital

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1985
PE ASSETS 2.1B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Silverfleet Capital is an independent private equity firm that invests in market leading businesses in growing sectors. Silverfleet looks to acquire companies headquartered in Western Europe or US-based businesses with a substantial European presence. Target companies are typically valued between €75 and €500 million and operate in sectors spanning business and financial services, healthcare, leisure, and retail/consumer. Silverfleet Capital was formerly known as PPM Capital, operating under Prudential plc. Silverfleet has offices in London, Paris, Munich, and Chicago.


DEAL STATS #
Overall 34 of 42
Sector (Chemicals) 2 of 3
Type (Add-on Acquisition) 10 of 13
Country (France) 4 of 5
Year (2021) 1 of 1
Size (of disclosed) 7 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-06 OneStock

Toulouse, France

OneStock is a SaaS provider of OMS software for the retail sector. OneStock’s OMS platform allows omnichannel retailers to unify their stock – from warehouses, distribution centres and stores – in order to enhance customer experience (CX) whilst improving profitability for the retailer. OneStock was founded in 2010 and is based in Toulouse, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-04 CoreDux

Tilburg, Netherlands

CoreDux is a vertically integrated manufacturer of proprietary, ultra-high purity flexible gas and fluid conveyance components and systems used in the most demanding high-tech applications including semiconductor manufacturing, space and aeronautics, and clean mobility. CoreDux was founded in 2019 and is based in Tilburg, Netherlands.

Sell -