Tikehau Capital, Bpifrance reinvest in ADDEV Materials

Tikehau Capital, Bpifrance and minority investors provided another 33 million euros ($36.4 million) to ADDEV Materials to finance the acquisitions of Andpak and Zip-Chem. Andpak specializes in the packaging of chemicals products for aeronautics industry, while Zip-Chem develops and makes surface preparation, anti-corrosion, lubricants and cleaning products. Tikehau and Bpifrance previously invested 38 million euros in Addev in April.


October 16, 2019 02:14 AM Eastern Daylight Time
PARIS–(BUSINESS WIRE)–Regulatory News:
Tikehau Capital (Paris:TKO), on behalf of its pan-European growth equity fund, and Bpifrance and minority investors reinvested €33 million in ADDEV Materials to finance the acquisition of American companies Andpak and Zip-Chem.
ADDEV Materials is an industrial company specialising in the conversion and custom cutting of high-performance materials (insulation, technical films, adhesives, foams, etc.). With over 700 employees, ADDEV Materials’ operations are largely based in Europe and North America.
The €33 million capital increase will enable ADDEV Materials to pursue growth through the acquisitions of Andpak, a company specialising in the packaging of chemicals products for aeronautics industry, and Zip-Chem, a developer and manufacturer of surface preparation, anti-corrosion, lubricants and cleaning products.
The capital increase is in line with the first investment of €38 million made by Tikehau Capital and Bpifrance and minority investors last April, which supported this fast-growing mid-sized company by giving it the means to strengthen its international development through external growth operations.
ADDEV Materials also acquired Graytone (Pexa and PSG companies), an English company specialising in the distribution of surface treatment and painting products for the aeronautics and defence sectors, and Riewoldt, a German supplier of custom-made adhesives, in last April and July respectively. These growth operations in the United States and in Europe allow ADDEV Materials to achieve a turnover of €170 million, up by more than 50% over the year 20191.
Tikehau Capital’s investment is made via its pan-European growth equity fund, which is dedicated to growing intermediate-sized companies. The aim of this fund is to accompany management teams and companies considered with high potential in developing markets by the investment teams.
Emmanuel Laillier, Head of Private Equity at Tikehau Capital, declared: “We are delighted to strengthen our investment in ADDEV Materials. Through these external growth operations in the United States, the United Kingdom and Germany, ADDEV Materials is accelerating its international development to position itself as a future international leader in tailor-made technical and chemical products for the aeronautics, aerospace and defence industries.”
Arnaud Legardeur, Investment Director at Bpifrance, adds: “The acquisition of Zip-Chem and Andpak is a key step in ADDEV Materials’ international growth strategy. This reinvestment aims to give this mid-size French company the necessary resources for its development and visibility in the excellence sector of aeronautics in the United States. It also demonstrates the support we give to the management of ADDEV Materials in its international development strategy.”
About Tikehau Capital:
Tikehau Capital is an asset management and investment group with €23.4 bn of assets under management (as at 30 June 2019) and shareholders’ equity of €3.1 bn (as at 30 June 2019). The Group invests in various asset classes (private debt, real estate, private equity and liquid strategies), including through its asset management subsidiaries, on behalf of institutional and private investors. Controlled by its managers, alongside leading institutional partners, Tikehau Capital employs more than 480 staff (as at 30 June 2019) in its Paris, London, Brussels, Madrid, Milan, Luxemburg, New York, Seoul, Singapore and Tokyo offices.
Tikehau Capital is listed on the regulated market of Euronext Paris, Compartment A (ISIN code: FR0013230612;
Ticker: TKO.FP)
About Bpifrance
Bpifrance is the French national investment bank: it finances businesses – at every stage of their development – through loans, guarantees, equity investments and export insurances. Bpifrance also provides extrafinancial services (training, consultancy.) to help entrepreneurs meet their challenges (innovation, export…).
For more information, please visit: www.bpifrance.fr and presse.bpifrance.fr – Follow us on Twitter: @Bpifrance – @BpifrancePresse
This transaction was carried out by TIKEHAU INVESTMENT MANAGEMENT SAS (on behalf of the funds that it manages), a portfolio management company approved by the AMF since 19/01/2007 under number GP-0700000006. This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed.
Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of Tikehau Capital and/or its affiliates. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to Tikehau Capital’s advisory activities in the US or with respect to US persons relates to Tikehau Capital North America.
1 Source: ADDEV Materials