DC Advisory Partners advised Steadfast Capital and Management on the sale of Cetelon Group to Berlac
Essential Information
Client
Cetelon
Date
November 2011
Deal value
€ Undisclosed
Advice Type
Sell-side Advice
Sector
Chemicals
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DC Advisory Partners advised Steadfast Capital and Management on the sale of Cetelon Group to Swiss Berlac Group. The sale results in a money multiple return of approx. 3x and an IRR of 31% for Steadfast Capital. Cetelon Group, with sales of approx. EUR 44 million, is a leading supplier of decorative paints and functional coatings for niche applications primarily in the automotive, mechanical engineering, railway, and construction industries. The Group comprises three operating entities Cetelon, Cetelon Nanotechnik, and Weckerle, each with a strong brand name in the coatings market. Steadfast acquired Cetelon Group in June 2005 together with Management and has since then strongly supported the successful growth path of the Company including the establishment of a new production facility for nano-based coatings and the development of growth strategies. The sale to Berlac Group, a Swiss group of companies that specializes in the production of coatings and compounds for surface finishing, surface protection, and plastic coloring, provides an ideal industry solution for both companies. With the transaction, Berlac acquires a complementary product portfolio and continues its growth strategy in highly attractive niche markets, while Cetelon Group will be able to benefit from Berlac’s access to the important Asian growth markets. DC Advisory Partners managed a competitive sales process involving private equity and strategic investors worldwide. DC Advisory Partners acted as sole financial advisor to Steadfast Capital, an independent private equity adviser focusing on medium-size businesses within German speaking Europe and Benelux countries, and Management. Financial terms of the transaction were not disclosed. |
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