Total Announces the Sale of Its Specialty Chemicals’ Affiliate Atotech to the Carlyle Group for $3.2 Billion
October 07 2016 - 3:00AM
Business Wire
Regulatory News:
Total (Paris:FP) (LSE:TTA) (NYSE:TOT):
In the context of the divestiture process of its specialty
chemicals’ affiliate, Atotech B.V., a global manufacturer of high
technology plating solutions, Total has selected the offer from The
Carlyle Group (CG:Nasdaq). In the framework of this transaction,
Total will receive $3.2 billion, representing 11.9 times Atotech’s
2015 adjusted EBITDA.
Carlyle is a global alternative asset manager that is well
positioned in Asia, Europe and the United States through its
significant range of investments, and is one of the most
experienced private equity investors in the global chemicals
industry. With its deep understanding of Atotech’s businesses,
Carlyle is well positioned to create meaningful value for Atotech
as it continues to grow and develop its operations, customer base
and talented workforce.
“Atotech, which is very active in Asia, is the worldwide leader
in its high tech segment, with a business model focused on
innovation and customer relationships. Carlyle will enable Atotech
to pursue its growth ambitions and serve its customers while
respecting its commitments towards its employees and stakeholders.
This transaction is part of Total’s portfolio management strategy,
which aims to align the Group’s asset base with its business
ambition. It also forms part of the $10 billion divestment
program over 2015-2017 announced by the Group”, commented Patrick
Pouyanné, Chairman & CEO of Total.
Equity for the transaction will come from Carlyle Europe
Partners IV, a €3.75 billion buyout fund, and Carlyle Partners VI,
a $13 billion U.S. buyout fund.
Gregor Boehm, Managing Director and Co-Head of Carlyle Europe
Partners, said: “With its intense customer focus and
state-of-the-art R&D capabilities, Atotech is poised for
continued growth and innovation. We look forward to partnering with
the company’s management team and employees to fully realize
Atotech’s potential.”
Martin Sumner, Managing Director on Carlyle’s Industrial and
Transportation team, said: “Atotech is a strong business with
excellent growth prospects in the global plating chemicals and
equipment industry. Carlyle looks forward to supporting Atotech’s
management team through continued investment in superior technology
innovation and solutions for its global customer base.”
The proposed transaction is subject to the applicable legally
required consultation and notification processes for employee
representatives and to approval by the relevant antitrust
authorities.
*****
About Atotech
Part of Total since 1993, Atotech B.V. is a global leader in
metal and surface finishing technologies, with two business
segments: electronics (printed circuit boards, semiconductors) and
general metal finishing (for end-markets such as automobile,
construction, furniture etc). Active in more than 40 countries,
Atotech has over 4,000 employees worldwide, mainly in China and in
Germany, with 18 production sites (6 in Europe, 8 in Asia, 4 in
America) and 18 TechCenters (5 in Europe, 8 in Asia, 5 in America).
In 2015, Atotech’s sales were €1 billion.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset
manager with $176 billion of assets under management across 128
funds and 170 fund of funds vehicles as of June 30, 2016. Carlyle’s
purpose is to invest wisely and create value on behalf of its
investors, many of whom are public pensions. Carlyle invests across
four segments – Corporate Private Equity, Real Assets, Global
Market Strategies and Investment Solutions – in Africa, Asia,
Australia, Europe, the Middle East, North America and South
America. Carlyle has expertise in various industries, including:
aerospace, defense & government services, consumer &
retail, energy, financial services, healthcare, industrial, real
estate, technology & business services, telecommunications
& media and transportation. Carlyle employs more than 1,650
people in 35 offices across six continents.
Web:
www.carlyle.comVideos: http://www.youtube.com/onecarlyleTweets: http://www.twitter.com/onecarlylePodcasts: http://www.carlyle.com/about-carlyle/market-commentary
About Total:
Total is a global integrated energy producer and provider, a
leading international oil and gas company, and the world’s
second-ranked solar energy operator with SunPower. Our
96,000 employees are committed to better energy that is safer,
cleaner, more efficient, more innovative and accessible to as many
people as possible. As a responsible corporate citizen, we focus on
ensuring that our operations in more than 130 countries worldwide
consistently deliver economic, social and environmental benefits.
total.com
*****
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Total contacts:Media Relations:Tel: +33 (0) 1 47 44 46
99presse@total.comorInvestor Relations:Mike Sangster, Nicolas
Fumex, Kim Housego, Romain Richemont, +44 (0)207 719 7962Robert
Hammond, (U.S) +1 713 483 5070orThe Carlyle Group
contacts:Catherine Armstrong, Tel: +44 (0) 207 894 1632
(office)catherine.armstrong@carlyle.comorElizabeth Gill, Tel: +1
202 729 5385elizabeth.gill@carlyle.comorKatharina Gebstattel, Tel:
+49 172 718 68 57katharina.gebsattel@vub.deorDaphné Claude, + 33 6
66 58 81 92Steeele&Holt
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