Lincoln International advises AXA Private Equity in the acquisition of a majority shareholding in the specialty chemical group Eliokem from Littlejohn & Co. LLC
PARIS, October 10, 2006 -- AXA Private Equity, in association with Eliokem's management team, acquired the company in a Leveraged Buyout (LBO) transaction for approximately $130 million. Eliokem had previously been owned by Greenwich, Connecticut-based private equity firm Littlejohn & Co. LLC. Lincoln International was the exclusive M&A advisor to AXA Private Equity on the transaction.
Eliokem (the Company) is a specialty chemical group headquartered in Villejust near Paris, France. The group employs more than 460 people worldwide and owns three production facilities located in Le Havre (France), Akron, Ohio (USA) and Ningbo (China). The Company has six representative offices in Europe, Asia and North America, and a network of 75 distributors and agents strategically located around the world. Eliokem disclosed that in 2005, the company achieved sales of $148 million, up 7% compared to 2004. It expects to achieve similar growth in 2006.
Eliokem's products are used in a wide variety of end products and applications. The Company is organized along four major business lines: Specialty Resins (used in paints and coatings, toners, rubber and oilfield applications), Antioxidants (used for plastic stabilizers in consumer applications and used in a wide variety of other applications), Elastomeric Modifiers (performance enhancing products used in plastics), and Latex (used in tire cord adhesives, gloves, brake linings and gaskets).
The Eliokem management team remains unchanged with Jacques Collonge as President and CEO, Philippe Carabin, Chief Financial Officer, Rick Sandford, Commercial Director, Olivier Faussadier, Manufacturing & Technology Director and Anne Chaumeret, Human Resource Director.
Lincoln International's deep sector knowledge of the chemical industry at the local and global levels, and its international presence in the US with the selling shareholders and in France with the Company and its management, were key elements in the success of this transaction.
About Lincoln International
Lincoln International specializes in merger and acquisition services and private capital raising for leading organizations involved in mid-market transactions. With offices in Chicago, Frankfurt, Los Angeles, New York and Paris, and strategic partnerships with China Everbright and other partner firms in Asia, Lincoln International has strong local knowledge and contacts in the key global economies. The organization provides clients with senior-level attention, in-depth industry expertise, and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest. More information about Lincoln International can be obtained at www.lincolninternational.com.
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