Add-on Acquisition • Chemicals

Firmenich Acquires Les Derives Resiniques Et Terpeniques SA

On March 6, 2020, Firmenich acquired chemicals company Les Derives Resiniques Et Terpeniques SA from Tikehau Capital and Ardian

Acquisition Context
  • This is Firmenich’s 1st transaction in the Chemicals sector.
  • This is Firmenich’s 1st transaction in France.

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M&A Deal Summary

Date March 6, 2020
Target Les Derives Resiniques Et Terpeniques SA
Sector Chemicals
Buyer(s) Firmenich
Sellers(s) Tikehau Capital
Ardian
Deal Type Add-on Acquisition

Target Company

Les Derives Resiniques Et Terpeniques SA

Dax, France
Les Derives Resiniques Et Terpeniques SA specialized in plant chemistry has developed rosin and turpentine extracted from pine resin. The company supplies its range of high value-added products to over twenty leading industries from, among others, perfume, adhesive, rubber, chewing gum and food supplements, etc. DRT, whose headquarters is in the Landes region of France, has four factories in south-west France and has manufacturing facilities in China, India and the United States.
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Buyer Overview 1

Buyer

Firmenich

Meyrin, Switzerland

Category Company
Founded 1895
Sector Consumer Products
Employees6,500
DESCRIPTION

Firmenich is a manufacturer of fragrances and flavors. Firmenich perfumes and flavors that billions of consumers enjoy each day. Firmenich was founded in 1895 and is based in Meyrin, Switzerland.


Deal Context for Buyer #
Overall 5 of 5
Sector: Chemicals 1 of 1
Type: Add-on Acquisition 4 of 4
Country: France 1 of 1
Year: 2020 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-05 Evonik Industries AG - CO2 Extraction Business

Essen, Germany

Evonik Industries AG - CO2 Extraction Business offers a quality method of extracting natural botanical molecules from flowers and nuts to coffee and tea.

Buy -

Seller Profiles 2

SELLER

Tikehau Capital

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2004
PE ASSETS 7.8B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Tikehau Capital is a global alternative asset management firm with with a variety of investing strategies including private debt, real assets, private equity, and capital markets strategies. The Firm's private equity group looks to invest directly in companies, private equity funds, as well as minority co-investments with other partners. For direct investments, Tikehau sees to partner with management in companies generating €20 million to €1 billion in revenue. Tikehau Capital was formed in 2004 and is based in Paris, France.


Deal Context for Seller #
Overall 4 of 11
Sector: Chemicals 1 of 1
Type: Add-on Acquisition 2 of 5
Country: France 3 of 7
Year: 2020 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-25 Univision

New York, New York, United States

Univision entertains, informs, and empowers U.S. Hispanics with news, sports, and entertainment content across broadcast and cable television, audio, and digital platforms. The company’s media portfolio includes the Univision and UniMás broadcast networks, as well as cable networks Galavisión and TUDN. Locally, Univision owns or operates 65 television stations in major U.S. Hispanic markets and Puerto Rico. Univision was formed in 1992 and is based in New York, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-07 EuroGroup Laminations

Baranzate, Italy

EuroGroup Laminations design and production of the “motor core” for electric motors and generators for applications in the electric vehicle and industrial markets. EuroGroup Laminations was founded in 1967 and Milan, Italy.

Buy -
SELLER

Ardian

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €1 billion per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.


Deal Context for Seller #
Overall 179 of 248
Sector: Chemicals 8 of 9
Type: Add-on Acquisition 46 of 63
Country: France 88 of 117
Year: 2020 6 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-06 Champeau

Feytiat, France

Champeau is a manufacturer of wood roof truss systems used mainly in the construction of residential houses. Champeau was founded in 1929 and is based in Feytiat, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-10 Acciona Energia

Alcobendas, Spain

ACCIONA Energía Internacional is an international renewable energy generation business comprising 2.3 GW in 14 countries. AEI was created in 2014 and is based in Alcobendas, Spain.

Buy -

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