MN-PIPER-SANDLER
13.7.2021 20:45:12 CEST | Business Wire | Press release
Piper Sandler & Co. chemicals & materials investment banking group (The Valence Group) announced today that it has advised PTT Global Chemical Public Company Limited (“PTTGC”) on its acquisition of Allnex, a leading global specialty chemical company focused on industrial coating resins, from Advent International for an enterprise value of €4.0 billion (c. U.S. $4.75 billion). The business has revenues of approximately €2 billion, EBITDA margin of 17-19%, and a global production network of 33 state-of-the-art manufacturing sites in 18 countries, 23 research and technology facilities, and approximately 4,000 employees worldwide. Allnex was originally formed from the combination of Cytec Coating Resins and Nuplex. The largest share of its production network is in Asia and corporate headquarters is in Frankfurt, Germany.
The acquisition of Allnex is subject to regulatory approvals and is expected to close in fourth quarter 2021.
Piper Sandler acted as exclusive financial advisor to PTTGC on the acquisition of Allnex.
PTT Global Chemical Company Limited is a Bangkok, Thailand headquartered global chemical company with diversified and comprehensive petrochemical businesses, including manufacturing and distribution of upstream, intermediate and downstream petrochemical products. PTTGC is listed on The Stock Exchange of Thailand and has revenues exceeding U.S. $10 billion. PTT Public Company Limited, the Thai state (51% owned) integrated energy and petrochemical enterprise, and a Fortune Global 500 company, is the major shareholder and will provide debt financing.
Allnex is the global leader in industrial coating resins, crosslinkers and additives. The company is recognized as a specialty chemicals pioneer, offering an extensive range of products, including innovative liquid resins and additives, radiation-cured and powder coating resins for use on wood, metal, plastic and many other surfaces. The business has strong positions in the automotive, industrial, marine, decorative and packaging markets, as well as in specialty and protective coatings and serves customers in more than 100 countries.
Founded in 1984, Advent International has invested in over 375 companies across 42 countries, and as of March 31, 2021, had U.S. $75 billion in assets under management. With 14 offices in 11 countries, Advent has established a globally integrated team of over 240 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology.
ABOUT PIPER SANDLER
Piper Sandler Companies (NYSE: PIPR) is a leading investment bank driven to help clients Realize the Power of Partnership®. Securities brokerage and investment banking services are offered in the U.S. through Piper Sandler & Co., member SIPC and NYSE; in the U.K. through Piper Sandler Ltd., authorized and regulated by the U.K. Financial Conduct Authority; and in Hong Kong through Piper Sandler Hong Kong Ltd., authorized and regulated by the Securities and Futures Commission. Private equity strategies and fixed income advisory services are offered through separately registered advisory affiliates.
Follow Piper Sandler: LinkedIn | Facebook | Twitter
©2021. Since 1895. Piper Sandler Companies. 800 Nicollet Mall, Minneapolis, Minnesota 55402-7036
View source version on businesswire.com: https://www.businesswire.com/news/home/20210713006056/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
SMBC and Toshiba Jointly Develop New Equity Indices Using Advanced Quantum-Driven Technologies28.5.2026 03:00:00 CEST | Press release
Sumitomo Mitsui Banking Corporation (“SMBC”) and Toshiba Corporation (“Toshiba”) today announced the joint development of the SMBC/TOSHIBA Quantum Driven Diversified Japan Equity Index and the SMBC/TOSHIBA Quantum Driven Diversified U.S. Equity Index, new equity indices realized with advanced quantum-driven technologies. Collectively, the indices are referred to as “SMBC/TOSHIBA Quantum Diversified” (the “Indices”). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260519448161/en/ Toshiba’s Simulated Bifurcation Machine 1. Background and Objectives Equity investment is central to asset management, but it also carries the ever-present risk of abrupt and substantial market fluctuations driven by geopolitical developments, changes in economic policy, and other external factors. In uncertain markets, investors are constantly seeking innovations in risk diversification that can protect their assets from unexpected market shocks. SM
BeOne Medicines Announces Phase 3 HERIZON-GEA Data Published in NEJM and Presented at ASCO 202627.5.2026 23:00:00 CEST | Press release
TEVIMBRA plus ZIIHERA and chemotherapy demonstrated statistically significant overall survival benefit with an unprecedented seven-month improvement in first-line HER2+ GEAOral presentation at ASCO highlights benefit regardless of PD-L1 status, including in PD-L1 <1% BeOne Medicines Ltd. (Nasdaq: ONC; HKEX: 06160; SSE: 688235), a global oncology company, today announced that data from HERIZON-GEA-01 were published in The New England Journal of Medicine and will be presented in an oral presentation (Rapid Oral Abstract: 4010) at the American Society of Clinical Oncology (ASCO) Annual Meeting on June 1, 2026, in Chicago.The HERIZON-GEA-01 clinical trial evaluated ZIIHERA® (zanidatamab) plus chemotherapy, with and without TEVIMBRA® (tislelizumab), compared with the control arm of trastuzumab plus chemotherapy as first-line treatment for advanced/metastatic HER2+ gastroesophageal adenocarcinoma (GEA). Dr. Sun Young Rha, Professor of Medical Oncology at the Yonsei Cancer Center, Yonsei Univ
Stallergenes Greer Foundation Celebrates Excellence in Allergy Innovation With 2025 Awards27.5.2026 17:22:00 CEST | Press release
The Stallergenes Greer Foundation, dedicated to advancing allergy research, fostering innovation and addressing environmental factors which impact allergies, is delighted to announce the recipients of the 2025 edition of its prestigious Science Awards for Allergy. Building on the success of the previous edition, this year’s awards recognise outstanding contributions to allergy research and patient engagement and allocate a total of €100,000 to support these initiatives. Four researchers have been selected by the Board as award recipients, each receiving €25,000 across two categories: Innovation In Treatment Awards Assoc. Professor Alexander Eggel, PhD, Department for Biomedical Research, University of Bern, and Department of Rheumatology and Immunology, University Hospital Bern, Switzerland, recognised for his research: “Improving diagnostic and therapeutic options for allergic patients”; Dr Janice A. Layhadi, PhD, Research Associate, National Heart and Lung Institute, Imperial College
Capchase Secures $200M+, as Demand for Vendor Financing in Enterprise Tech Deals Accelerates27.5.2026 16:00:00 CEST | Press release
As buyers face tighter budgets, Capchase helps technology companies close more deals faster with AI-enabled instant financing Capchase, the leading vendor financing platform for enterprise tech, today announced $200M+ in incremental funding to scale its embedded financing infrastructure globally and deploy more AI-enabled features. The funding, a mix of debt warehouse facilities and equity backed by institutional investors, reflects market validation that vendor financing has become essential infrastructure for enterprise technology companies to sell hardware and software products. As global B2B buyers face tighter budgets and greater scrutiny over large, up-front purchases, financing demand is growing. The Market Shift: Financing as a Growth Lever for B2B Tech Companies The $1.3 trillion vendor financing market has been traditionally dominated by banks and other lenders that utilize multi-thread email chains to manual doc review for underwriting. Capchase replaces those bottlenecks wi
ClickHouse Tops $250M ARR and 4,000 Customers, Launches Claude-Powered Agents at Open House 202627.5.2026 15:00:00 CEST | Press release
Annual run-rate revenue more than tripled year-over-year; new CostBench benchmark shows ClickHouse Cloud at 23x better cost-performance than the nearest cloud data warehouse ClickHouse today opened Open House 2026, its second annual user conference, with a set of announcements that mark one of the company's most active quarters since founding. ClickHouse’s serverless cloud offering has crossed over $250 million in annual run-rate revenue — more than triple a year ago — and added more than 1,000 net new customers since January, bringing its total to 4,000. To meet the demands of AI-era workloads, the company also launched ClickHouse Agents, a fully managed agentic analytics service powered by Anthropic's Claude; published CostBench, an open benchmark comparing the major cloud data warehouses on cost-performance; and introduced House Mates, its first formal partner program. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260527
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom