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M&A Deal Summary

Johnson Matthey Acquires Formox AB

On March 28, 2013, Johnson Matthey acquired chemicals company Formox AB from Perstorp for 1.1B SEK

Acquisition Highlights
  • This is Johnson Matthey’s 5th transaction in the Chemicals sector.
  • This is Johnson Matthey’s largest (disclosed) transaction.
  • This is Johnson Matthey’s 1st transaction in Sweden.

M&A Deal Summary
Date 2013-03-28
Target Formox AB
Sector Chemicals
Buyer(s) Johnson Matthey
Sellers(s) Perstorp
Deal Type Divestiture
Deal Value 1.1B SEK

Target

Formox AB

Perstorp, Sweden
Formox is a leading global provider of catalysts, plant designs and licences for the manufacture of formaldehyde, an important chemical intermediate. It has developed a market leading range of novel metal oxide based catalysts for the production of formaldehyde from methanol and is the leading provider of process technology for metal oxide based formaldehyde production plants with an installed base of around 130 plants worldwide.

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Buyer(S) 1

Buyer

Johnson Matthey

London, United Kingdom
Category Company
Founded 1817
Sector Chemicals
Employees10,644
Revenue 11.7B GBP (2025)
DESCRIPTION

Johnson Matthey is a specialty chemicals company underpinned by science, technology, and our people. A leader in sustainable technologies, many of our products enhance the quality of life for millions worldwide. Johnson Matthey was founded in 1817 and is based in London, England.

DEAL STATS #
Overall 10 of 12
Sector: Chemicals M&A 5 of 5
Type: Divestiture M&A Deals 3 of 5
Country: Sweden M&A 1 of 1
Year: 2013 M&A 1 of 1
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-22 Axeon Holdings

Dundee, United Kingdom

Axeon is a independent lithium-ion battery systems supplier, processing over 70 million cells a year and supplying volume production of batteries for global markets. The Company has a market-leading technology for managing lithium-ion batteries, delivering safe, durable performance. Axeon designs and manufactures large-scale high voltage automotive grade battery systems for electric and hybrid electric vehicles, batteries for mobile power products and performance battery packs for the professional cordless power tools and mobile device markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-30 Alfa Aesar & Co KG

Karlsruhe, Germany

Alfa Aesar GmbH & Co KG is a manufacturer and supplier of research chemicals.

Sell £256M

Seller(S) 1

SELLER

Perstorp

Malmo, Sweden
Category Company
Founded 1881
Sector Chemicals
Employees1,500
Revenue 13.6B SEK (2017)
DESCRIPTION

Perstorp is a provider in the production of specialty chemical additives notably for the coatings and resin industries. Perstorp was founded in 1881 and is based in Malmo, Sweden.

DEAL STATS #
Overall 1 of 3
Sector: Chemicals M&A 1 of 3
Type: Divestiture M&A Deals 1 of 3
Country: Sweden M&A 1 of 2
Year: 2013 M&A 1 of 1
Size (of disclosed) 1 of 3
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-06 Perstorp Oxo Belgium AB

Evergem, Belgium

Perstorp Belgium is a niche performance additives business serving the decorative and industrial coatings industries. It has strong market leadership positions (#1 or #2) and serves a highly attractive, blue-chip customer base. The business operates from a well located, single site in Ghent, Belgium where there is potential for growth capacity for future demand.

Sell €78M
Mergr

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