Deals in Focus

Deals in Focus | DACH 3rd February 2020
3rd February 2020 Atheneum Team
3rd February 2020

Key Atheneum Experts

Former Board Director – CeramTec
Former VP Operations – CeramTec
Former Group CTO – Morgan Advanced Materials (rival)

Key Information

Industrials
HQ – Germany
Operations – Global

BC Partners are exploring the potential sale of its stake in CeramTec. The German producer of advanced ceramic materials were initially sold by Cinven for €2.6bn to BC Partners in conjunction with Ontario Teachers’ Pension Plan and Public Sector Pension Investment Board. Sources value the firm at €3bn upwards with CVC Capital Partners and Partners Group among several firms interested.

Key Atheneum Experts

Former CEO – Clariant
Former Global Project Manager – Clariant
Director of Customer Experience – BASF (rival)

Key Information

Industrials
HQ – Switzerland
Operations – Global

Swiss chemicals giant, Clariant, are planning to sell off its pigments unit, which sources value at 900m Swiss francs. Deutsche Bank have been brought on to launch an auction in February. Private equity firms such as Cinven, Bain, Triton and others are said to be interested in acquiring the unit. The auction of this business unit was supposed to occur last year, however, rival BASF put a similar business on the block – selling it DIC Corp (Japanese printing ink maker).

Key Atheneum Experts

Former Chief Commercial Officer – lastminute.com
Former Global Director New Ventures – booking.com (rival)
Director of Product Innovation & Strategy – eDreams (rival)

Key Information

Transport & Leisure
HQ – UK
Operations – Global

On the 27th January lastminute.com (Lm Holding) confirmed that talks were ongoing with private equity firms and others regarding strategic options for the firm. The Swiss-headquartered leader in online travel and leisure grew 7.7% in 2019, more than double its closest competitor Booking.com. Over the last 12 months lastminute.com’s ROE was 17%.

Key Atheneum Experts

Former Technical Director – MAN Energy Solutions
Former Programme Director – MAN Energy Solutions
Former VP Diesel Engines – Mitsubishi Heavy Industries (rival)

Key Information

Industrials
HQ – Germany
Operations – Global

Volkswagen are unhappy with offers made by potential buyers for its diesel engine production business, MAN Energy Solutions, according to sources. MAN Energy could be worth between €1.5-2bn, and whilst the sale is not a formal auction, suitors are expected to give final bids by the end of February. Industrial players are likely to be first choice for the group, but private equity firms have shown interest.

Key Atheneum Experts

Former Business Development Manager – BayWa r.e.
Business Director – Octopus Energy (rival)
Head of Energy Trading – Ecotricity (rival)

Key Information

Energy
HQ – Germany
Operations – Global

German agriculture, energy and building materials company, BayWa, are looking to sell a minority stake in its renewable energies business. Up to 49% of BayWa r.e. could be sold at an enterprise value of €2bn. The firm are in talks with Credit Suisse, who invest in renewable energy through Credit Suisse Energy Infrastructure Partners, but sources claim that these negotiations may not end up in a deal.