Alantra advised capiton and ICG on the sale of Prefere Resins

Sep 2018

Sell-side advisory

Frankfurt– Alantra advised leading private equity investors capiton AG (majority shareholder) and ICG as well as the management team on the sale of Prefere Resins Holding GmbH, a leading provider of phenolic resins, to Silverfleet Capital. In the course of the transaction, Prefere Resins’ management will re-participate in the company. The transaction is subject to approval of the relevant anti-trust authorities. Alantra ran an international process involving investors from North America, Europe and Asia supported by Alantra’s local teams. In addition, Alantra’s debt advisory team designed and executed a comprehensive bank education process.

Manuel Hertweck, partner at capiton, said “The sale of Prefere Resins marks the second transaction for capiton led by Alantra within the last six months after the divestiture process for Kautex. Alantra ran a highly competitive, international and well-structured process, leading to an outstanding result. We have been impressed by Alantra’s deep knowledge of the industry and the commitment the entire team provided throughout the whole process. Once again, Alantra proved their expertise in structuring a tailor-made M&A sales process, including a comprehensive lender education.”

Headquartered in Erkner (nearby Berlin), Germany, Prefere Resins is the market leader and one of the technological frontrunners in the European phenolic resins industry. The product portfolio comprises customized adhesive and binder formulations of mainly phenolic and other formaldehyde-based resins in the form of resole and novolac products. The offered product range is provided to blue-chip customers across the construction, insulation and industrial segments. With c. 320 employees and an international setup of production, R&D and sales locations, Prefere Resins produced c. 320,000 tons of phenolic and amino resins and generated sales of c. € 220 million in 2017.