GEORGIOS KEFALAS
The deal goes to a consortium made up of competitor Heubach from Germany and the US investment company SK Capital Partners. Clariant will, however, continue to invest in the business area in the future.
As Clariant announced on Monday, the value of the pigment business sold is estimated at 805 to 855 million francs. The final price tag depends on a so-called earn-out clause of over 50 million francs, depending on the performance of Clariant’s pigment business in 2021. According to the information, the business should take place in the first half of 2022.
Clariant’s pigment business has 1,900 employees and has a turnover of around 850 million francs. The merger with the Heubach pigment business will create a company with 3000 employees and annual sales of 900 million euros.
Clariant will buy a 20 percent stake in this company after the transaction is completed. This enables Clariant to benefit from the improved profitability of the business and to participate in its growth opportunities.