On June 14, Clariant announced that it had reached a final agreement to divest its pigment business to the Heubach Group and SK Capital Partners consortium, with an enterprise value (EV) of 805 million Swiss francs (about 952.7 million US dollars) , On a cashless and debt-free basis, depends on the profit payment of 50 million Swiss francs, depending on the financial performance of Clariant's pigment business in 2021. This is 10.7 to 11.4 times the 12-month EBITDA after independently adjusted every April 2021 (LTM). Upon completion of the transaction, Clariant will reinvest with Heubach and SK Capital to become a 20% shareholder of the ultimate holding company. The combined company will become a global pigment company with approximately 3,000 employees, annual sales of more than 900 million euros, and strong global service and production capabilities. The transaction is subject to customary closing conditions and regulatory approvals, and is expected to be completed in the first half of 2022. Clariant’s pigment business’s shares in Infraserv Höchst, Germany are not part of this transaction.
Source：ChemNet
