SK Capital and Heubach complete Clariant’s pigments business buyout

SK Capital Partners and Heubach have closed its previously announced acquisition of Clariant’s pigments business.

SK Capital Partners and Heubach have closed its previously announced acquisition of Clariant’s pigments business. The transaction puts Clariant Pigments at a valuation of about CHF 805 million, as previously reported by PE Hub. The combined businesses of Heubach and Clariant Pigments will operate under the Heubach name. The Valence Group of Piper Sandler & Co., BofA Securities and Citigroup served as financial advisors to Heubach and SK Capital on the deal.

PRESS RELEASE

LANGELSHEIM, Germany & NEW YORK–(BUSINESS WIRE)–The Heubach Group (“Heubach”, the “Company”), a leading global producer of pigments and SK Capital Partners (“SK Capital”), a private investment firm focused on the specialty materials, chemicals and pharmaceuticals sectors, announced today the completion of the acquisition of Clariant’s Global Colorants Business (“Clariant Pigments”). The combined business will operate under the Heubach brand, creating a global pigment technology and industry leader.

The newly combined Heubach Group is a leading global provider of comprehensive color solutions, supplying a broad portfolio of organic, inorganic, and anti-corrosive pigments, pigment preparations, dyes, colorants and specialty materials. The Company is a technological and quality leader and operates its global business from nineteen manufacturing facilities across Europe, the Americas, Asia and Africa, employing approximately 3,000 people. The headquarters of the Heubach Group will be established in Vienna, Austria.

Johann Heubach, of the Heubach Group, stated, “The new Heubach is a world-class organization with great talent, technology and assets. For us, product excellence and sustainability are core. We are well-positioned to create significant value for our customers and business partners across the many industries we serve.”

Aaron Davenport, a Managing Director of SK Capital, noted, “The combination of Heubach and Clariant Pigments creates an industry leader committed to the highest standards in manufacturing, quality and service. We look forward to supporting management in the growth and improvement of the Company by investing into talent, innovation and market expansion.”

The Heubach Group is excited to announce the appointment of Stefan Doboczky as Chief Executive Officer of the Heubach Group, effective January 10, 2022. Mr. Doboczky joins the Heubach Group having most recently served as CEO of Lenzing AG, a global leader of cellulosic fibers and biochemicals. Prior to Lenzing, Mr. Doboczky was member of the Managing Board of Royal DSM, the Dutch Life Science and Material Science Group, where he spent almost two decades in various general management roles. Mr. Doboczky holds a PhD in Natural Science from the Technical University of Vienna (A), as well as an MBA from IMD in Lausanne (CH). Stefan Doboczky noted, “I am very excited to join the new Heubach Group. I am convinced that by combining these successful businesses we will create a powerful offering for our customers in the pigment and colorant space.”

The Valence Group of Piper Sandler & Co., BofA Securities and Citigroup served as financial advisors to Heubach and SK Capital. Committed financing for the transaction was provided by BofA Securities, Citigroup, HSBC, KeyBanc, Citizens, ING and MUFG. Lenz & Staehelin AG and Kirkland & Ellis LLP acted as legal counsel to Heubach and SK Capital. Milbank LLP acted as legal counsel to Heubach. Homburger AG acted as legal counsel to Clariant and Deutsche Bank AG served as Clariant’s financial advisor.

About Heubach Group
With a tradition of delivering excellence that stretches back over 200 years, the Heubach name is synonymous with innovation, attention to customer needs and reliability in creating colors. Today’s Heubach is a global industry leader in the field of pigments, pigment preparations, dyes, colorants and specialty materials. Heubach is committed to reliable supply of high-quality materials to meet customers demanding production environments. Sustainability is a part of the Heubach DNA. Heubach has a global manufacturing footprint including 19 facilities around the globe and generates approximately €1 billion in annual sales. For more information, please visit www.heubachcolor.com.