Herter & Co. advised private equity group Ardian on the financing of its acquisition of Exclusive Synthesis and Maleic Anhydride Intermediates & Specialties business activities (jointly ESIM Chemicals) from DPx Holdings B.V. with a senior financing package of well above €100 million.
Herter & Co. coordinated a competitive financing process which resulted in a banking club consisting of BHF Bank, BNP Paribas, ING DiBa, IKB Deutsche Industriebank, SEB and UniCredit Bank Austria.
ESIM Chemicals is a leading global provider of high-quality agricultural and crop protection chemicals, intermediates and maleic anhydride tree chemicals. The company focuses on partnering with companies in the custom synthesis of their unique compounds and offers a portfolio of fine chemical products critical to multiple industries. ESIM Chemicals is a growing enterprise headquartered in Linz (Austria) with approximately 400 employees. The company has more than 75 years of experience in transforming innovative ideas into scalable supplies of advanced fine chemical products and intermediates using state of the art facilities in Linz.
Ardian, founded in 1996 and led by Dominique Senequier, is an investment company with assets of US$50bn managed or advised in Europe, North America and Asia. Ardian maintains a truly global network, with more than 350 employees working through eleven offices in Paris, London, New York, Beijing, Frankfurt, Jersey, Luxembourg, Madrid, Milan, Singapore and Zurich. The company offers its investors a diversified choice of funds covering the full range of asset classes, including Direct Funds (Mid Cap Buyout, Infrastructure, Expansion, Ardian Growth, Co-Investment), Private Debt and Fund of Funds (primary, early secondary and secondary). Ardian’s Mid Cap Buyout Team has extensive experience in the chemicals sector from previous and current investments in companies such as CABB, Novacap, Italmatch and Eliokem.
“Herter & Co. supported us successfully through the whole financing process resulting in a tailor-made financing package with favourable terms despite the complexity of a carve-out situation and ambitious timing between signing and closing.” said Wolfgang Pietzsch, Managing Director of the Mid Cap Buyout team at Ardian.
Herter & Co. acted as Sole Debt Advisor to Ardian on this transaction.