Conzzeta has sold Schmid Rhyner to Altana
With Schmid Rhyner, Altana acquires the global innovation leader in UV-curing and specialty packaging coating solutions. As part of Altana’s flexible packaging coatings division ACTEGA, Schmid Rhyner will ideally complement ACTEGA’s globally leading product offering. With joined forces, ACTEGA and Schmid Rhyner will be able to serve the combined customer base with a comprehensive portfolio of highly innovative UV-curing, water-based as well as further specialty (e.g. dual cure formulations) products and solutions on a global scale.
ACTEGA intends to continue production of Schmid Rhyner’s products at its current facility in Adliswil, Switzerland.
For Conzzeta, the transaction is an important first successful step in its recently announced strategy to streamline its business portfolio and to focus on its Bystronic business unit.
Lincoln International acted as the exclusive M&A adviser to Conzzeta, providing process, financial and tactical advisory expertise and managing the preparatory, marketing, due diligence and negotiation phases of the transaction.
The transaction, which is Lincoln International’s 20th Chemicals deal globally in the last twelve months and the fifth coatings deal in Switzerland alone, further demonstrates the firm’s leading sell-side track record in chemicals, coatings and corporate disposals.
Terms of the agreement were not disclosed. Closing of the transaction is expected by the end of the first quarter 2020, subject to regulatory approval.
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