BALMORAL FUNDS takes majority stake in TRECORA RESOURCES

Turpaz Industries, acting through its wholly owned subsidiary Turpaz USA, has executed a definitive agreement to acquire an 81% majority stake in Klabin Fragrances. The deal structure incorporates performance-based adjustments for the 2022 fiscal year and includes a put/call option mechanism for the remaining 19% equity interest, exercisable for a one-year period beginning January 1, 2026. The acquisition is financed through a combination of independent corporate resources and external bank financing

The acquisition of a majority stake in Clayens Group by One Equity Partners marks the exit of the previous majority shareholder, Siparex, which alongside existing co-investors and the incumbent management team led by CEO Eric Pisani, will reinvest as minority partners to maintain corporate continuity. Under Siparex’s stewardship since 2019, the group scaled its operations from €273 million to over €350 million in trailing twelve-month revenue, primarily driven by the execution of four strategic add-on acquisitions that expanded its geographic and technological footprint

This primary recapitalization transaction formalizes the partnership between LFM Capital and Novex, representing the second platform acquisition out of LFM’s third fund and marking the transition of the business from a family-run enterprise into an institutionalized manufacturing platform. The deal structure features an extensive equity rollover by founder and Chief Executive Officer Chuck Lynn alongside his family, preserving complete executive alignment, safeguarding proprietary product-formulation intellectual property, and ensuring stable customer relationship continuity across the wholesale network

The executive team of Safic-Alcan successfully organized a new Management Buyout (MBO) to reorganize its capital and reinforce management control. The transaction values the group above €1.0 billion, a significant milestone following a period of record growth. The deal marks a leadership transition, with Yann Lissillour succeeding Martial Lecat as CEO. A key feature of this transaction is the expansion of the employee shareholder base, with the goal of having over 500 employees holding equity. The financial sponsors provided a mix of equity and bond financing (obligations) to allow the management team to "re-lever" and strengthen their majority position

The Carlyle Group has announced its intention to acquire Altadia Group, the world's largest manufacturer of intermediate products for the production of ceramic tiles. This strategic acquisition will enable Carlyle to strengthen its presence in the materials sector and capitalize on the growth of the ceramic market. The acquisition of Altadia Group is the result of a sale process led by Lone Star Funds, which had acquired the group in 2017. Carlyle plans to finance the acquisition through a senior secured term loan and a senior secured revolving credit facility

The transaction involves the sale of Castello Italia's entire share capital to the ARaymond Group, marking the first divestment by investment fund Arcadia Small Cap II after a three-year holding period characterized by the institutionalization of the target company. Arcadia had acquired 75% of the shares in August 2018 from Chemical Project Holding, which retained 25% to support the industrial development plan. Under this governance, the company achieved significant dimensional growth, increasing its workforce by 70% and raising its revenue to over 30 million euros, accompanied by a doubling of its operational profitability

The acquisition of Coventya by Element Solutions Inc represents a major turning point in the professionalization of the surface treatment sector, signaling a shift toward global industrialized chemical platforms. The strategic rationale for this transaction centers on a "portfolio-synergy" play, merging Coventya’s industry-leading technical operational depth in specialty plating with Element Solutions Inc's massive global scale and R&...D infrastructure. This structural alignment provides the combined organization with the scientific hardware required to address the increasing complexity of global supply chains, specifically the rising demand for lightweight aluminum treatments and sustainable hybrid-vehicle components

Private equity firm BC Partners and the Canada Pension Plan Investment Board (CPPIB) have partnered to acquire advanced ceramics producer CeramTec. Following the completion of the deal, BC Partners and CPPIB will each hold a 50% equity stake in the company. The transaction facilitates the buyout of the stake previously held by BC Partners alongside its co-investors, which included the Ontario Teachers' Pension Plan (OTPP), Public Sector Pension Investment Board (PSP), Credit Suisse, and Adam Street Partners

Iberchem has acquired a 95% stake in Parfex, a French fragrance house, with the intention to launch a squeeze-out to delist the company from Euronext Access. This acquisition is highly strategic for Iberchem (and its parent Croda), as it secures a foothold in Grasse, France, enhancing its legitimacy in the "Prestige" and "Fine Fragrance" segments. Parfex's focus on premium, natural ingredients complements Iberchem's existing portfolio, which is historically stronger in emerging markets and mass-market applications

The transaction involves Wendel and the Deconinck family forming a partnership to acquire a significant stake in Tarkett. The partnership, known as Tarkett Participation, will launch a simplified tender offer to acquire Tarkett shares at a price of €20 per share, representing a premium of 25.8% to the last closing price. The transaction is subject to certain conditions, including the receipt of regulatory approvals and the tender of a minimum number of shares. If the offer is successful, Wendel will hold up to 30% of Tarkett Participation, alongside the Deconinck family, which will maintain a controlling stake in the company