M&A Deal Summary

Rhône Group and The Chatterjee Group Acquire Lummus Technology

On June 30, 2020, private equity firms Rhône Group and The Chatterjee Group acquired energy services and equipment company Lummus Technology from McDermott for 2.7B USD

Acquisition Highlights
  • This is Rhône Group’s 3rd and The Chatterjee Group’s 1st transaction in the Energy Services and Equipment sector.
  • This is Rhône Group’s and The Chatterjee Group’s largest (disclosed) transaction.
  • This is Rhône Group’s 12th and The Chatterjee Group’s 1st transaction in the United States.
  • This is Rhône Group’s 5th and The Chatterjee Group’s 1st transaction in Texas.

M&A Deal Summary

Date 2020-06-30
Target Lummus Technology
Sector Energy Services and Equipment
Buyer(s) Rhône Group
The Chatterjee Group
Sellers(s) McDermott
Deal Type Divestiture
Deal Value 2.7B USD

Target

Lummus Technology

Houston, Texas, United States
Lummus Technology develops and implements process technologies. The Company licenses petrochemical, refining, gasification and gas processing technologies, and supplies catalysts, proprietary equipment and related services to customers worldwide. Lummus Technology is based in Houston, Texas.

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Buyer(S) 2

Buyer

Rhône Group

New York, New York, United States

Category Private Equity Firm
Founded 1996
PE ASSETS 8.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Rhône Group is a private equity and financial advisory firm focused on large-scale buyouts across North America and Western Europe. Areas of interest include energy, materials, industrials, retail, consumer products, healthcare, and financial services. Rhône was formed in 1995 and has offices in New York, Paris, and London.


DEAL STATS #
Overall 27 of 30
Sector (Energy Services and Equipment) 3 of 3
Type (Divestiture) 7 of 7
State (Texas) 5 of 5
Country (United States) 12 of 14
Year (2020) 1 of 2
Size (of disclosed) 1 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-24 Unieuro

Forli, Italy

Unieuro is a retailer of consumer electronic products. Unieuro was founded in 1937 and is based in Forli, Italy.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-21 Illy

Trieste, Italy

Illy is a producer and supplier of premium quality coffee and one of the most recognized brands in the global coffee industry. The company has a global footprint, generating sales in more than 140 countries, with the majority in Europe and with meaningful presence in North America and Asia. The company operates two roasting facilities, in Trieste and Milan, and supplies a broad suite of Illy-branded high-end coffee products, including roasted coffee beans for use in professional coffee machines at bars and retail outlets, roast and ground confections, and portioned coffee for home and office consumption, as well as coffee machines, capturing virtually all on-premise and off-premise consumption occasions.

Buy -
DESCRIPTION

The Chatterjee Group is a private equity firm focused on investments in the petrochemicals, life science, financial services, real estate and technology sectors. The Firm operates a range of funds and will consider opportunities across the US, Europe, and South Asia. The Chatterjee Group is based in Bandra, India.


DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

McDermott

Houston, Texas, United States

Category Company
Sector Engineering
Revenue 8.4B USD (2019)
DESCRIPTION

McDermott is a fully integrated provider of technology, engineering and construction solutions to the energy industry. McDermott's proprietary technologies, integrated expertise and comprehensive solutions deliver certainty, innovation and added value to energy projects around the world. McDermott is headquartered in Houston, Texas.


DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-23 CB&I

S-Gravenhage, Netherlands

CB&I is an engineering and construction company specializing in the design and engineering, fabrication, field erection, and repair of bulk liquid terminals, storage tanks, process vessels, low temperature and cryogenic storage facilities and other steel plate structures and their associated systems. CB&I primarily serves customers in the petroleum, petrochemical, chemical, electric and gas utility, pulp and paper and metals and mining industries. CB&I was founded in 1889 and is based in S-Gravenhage, Netherlands.

Buy -