- June 14, 2021
- Posted by: Stratford Team
- Category: Business
ZURICH (Reuters) -Clariant has agreed to sell its pigments business to Heubach Group and SK Capital Partners in a deal which values the business at up to 855 million Swiss francs ($951.27 million), the Swiss chemicals maker said on Monday.
FILE PHOTO: The logo of Swiss specialty chemicals company Clariant is seen at the company’s headquarters in Pratteln, Switzerland August 9, 2017. REUTERS/Arnd Wiegmann/File Photo
Clariant said it would reinvest to become a 20% shareholder in the new combined business, which employs 3,000 people and has annual sales of around 900 million euros ($1.09 billion).
The deal represented an enterprise value of 805 to 855 million francs, depending on an earn-out payment based on the 2021 financial performance of the business which makes pigments and dyes used in the automotive, plastics and other industries.
Clariant said the sale, which is expected to be completed in the first half of 2022, represented a multiple of 10.7 to…
