M&A Deal Summary

Symrise Acquires Pinova

On September 21, 2015, Symrise acquired chemicals company Pinova from TorQuest for 417M USD

Acquisition Highlights
  • This is Symrise’s 2nd transaction in the Chemicals sector.
  • This is Symrise’s 2nd largest (disclosed) transaction.
  • This is Symrise’s 6th transaction in the United States.
  • This is Symrise’s 1st transaction in Georgia.

M&A Deal Summary
Date 2015-09-21
Target Pinova
Sector Chemicals
Buyer(s) Symrise
Sellers(s) TorQuest
Deal Type Add-on Acquisition
Deal Value 417M USD

Target

Pinova

Brunswick, Georgia, United States
Pinova, Inc. is a manufacturer of specialty chemical products derived from pine trees and citrus fruit peels. Pinova produces rosin and terpene based resins that are used in a wide range of specialty applications around the world, including food and beverage, adhesive, construction and agriculture.

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Buyer(S) 1

Buyer

Symrise

Holzminden, Germany
Category Company
Founded 1874
Sector Chemicals
Employees12,656
Revenue 4.7B EUR (2023)
DESCRIPTION

Symrise is a producer of flavours, fragrances, cosmetic ingredients and aroma chemicals in the world. Symrise was founded in 1874 and is based in Holzminden, Germany.

DEAL STATS #
Overall 7 of 14
Sector (Chemicals) 2 of 4
Type (Add-on Acquisition) 6 of 10
State (Georgia) 1 of 1
Country (United States) 6 of 8
Year (2015) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-12 Diana S.A.S.

Vannes Cedex, France

Diana Ingredients is the global natural ingredients supplier for the pet food and food & beverage industry.

Buy €1.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-23 Sensient’s Fragrances Business Unit

Milwaukee, Wisconsin, United States

Sensient’s Fragrances Business Unit comprises a wide range of aroma molecules and fragrances from natural and renewable sources.

Buy -

Seller(S) 1

SELLER

TorQuest

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2002
PE ASSETS 3.0B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

TorQuest Partners is a Canadian mid-market private equity firm. TorQuest invests in established companies that deal in manufacturing, business services, financial services, industrial products, food, consumer products, and chemicals. Prospective transaction situations include family successions, recapitalizations, corporate carve-outs, and buyouts. Torquest targets businesses valued from C$40 to C$250 million where the firm can commit C$20 to C$100 million. TorQuest Partners was formed in 2002 and is based in Toronto.

DEAL STATS #
Overall 11 of 26
Sector (Chemicals) 2 of 2
Type (Add-on Acquisition) 3 of 12
State (Georgia) 1 of 1
Country (United States) 3 of 6
Year (2015) 2 of 3
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-20 Kissner Milling

Cambridge, Ontario, Canada

Kissner Milling Co., Ltd. is a producer and distributor of bulk rock salt and packaged specialty deicing products across North America. Kissner was formed in 1878 and is based in Detroit, Michigan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-09 Spinrite

Listowel, Ontario, Canada

Spinrite is a manufacturer and marketer of craft yarn products in North America. Spinrite's Bernat, Patons, Lily Sugar's Cream, and Phentex brands, which are sold through mass merchants, craft stores, and independent specialty stores. Spinrite was founded in 1952 and is based in Listowel, Ontario.

Buy -
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