ADVANCION (ANGUS CHEMICAL) acquired by ARDIAN
Context
Ardian, the global private investment house, acquired a 50% ownership stake in Angus Chemical Company from Golden Gate Capital. The investment was driven by Angus's indispensable position within the global Life Sciences value chain. During the pandemic, Angus's nitroalkane derivatives became vital components for the manufacture of diagnostic kits, antibody treatments, vaccines, and high-alcohol hand sanitizers. Ardian's strategy is to use Angus as a platform for a global "Buy-and-Build" strategy, specifically targeting additional specialty chemical companies in Europe and Asia to further diversify its life sciences and personal care portfolio.
ADVANCION (ANGUS CHEMICAL), which reported an EBITDA margin of in 2020, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Industry & Manufacturing sector (11.6x).
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Target
Angus is the world s only chemical company dedicated to the manufacture and distribution of nitroalkanes and their derivatives. Its specialty additives and intermediates are critical "mission-critical" components in life sciences, personal care, and Corporate applications. Key products include TRIS AMINO™ tromethamine, a vital buffer used in the manufacturing of vaccines and biopharmaceuticals.
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Historical Financials (USD)
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REFERENCES
Valuation range: EV 1b - 4b USD
Revenue range: 250M - 500M USD
EBITDA range: 100M - 200M USD
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Acquirer: ardian