Lincoln International Represents Akzo Nobel N.V. in the Sale of Akcros Chemicals to GIL Investments Limited
FRANKFURT AND CHICAGO, April 12, 2007 - Akzo Nobel N.V. ("Akzo Nobel") has completed the sale of Akcros Chemicals, a developer and producer of polyvinyl chloride ("PVC") additives, to UK-based private investment firm GIL Investments Limited ("GIL"). Terms of the transaction were not disclosed. Lincoln International acted as the exclusive financial advisor to Akzo Nobel and worked closely with the senior management team of Akcros Chemicals to complete this transaction.
Akcros Chemicals, headquartered in Eccles, United Kingdom, manufactures mixed metal and tin stabilizers, opoxy plasticizers, biocides and driers, as well as markets a full range of complementary products such as impact modifiers, processing aids, viscosity modifiers, bonding agents and antistatic agents. The company sells its products to customers worldwide and maintains its position as one of the market leaders in both Europe and North America through its strategically located operations.
Under the terms of the deal, Akcros Chemicals' sites in Eccles, United Kingdom and New Brunswick, United States, along with all of the approximately 160 employees at these locations, transferred to GIL. An agreement was also reached whereby Akzo Nobel continues to operate two smaller, related production operations in Greiz, Germany and Itupeva, Brazil. Employees at these two locations, who provide toll production services to GIL, remain with Akzo Nobel.
"Transferring the bulk of the PVC additives activities to a new owner is the best way forward for the business, which will continue to operate under its current name," explained Leif Darner, member of Akzo Nobel's board of management responsible for Chemicals.
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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