DIY KITCHENS acquired by HOWDENS

Johnson Matthey acquires Cormetech, a US-based specialist in SCR catalysts used for emissions control in power generation and industrial applications. The transaction strengthens JM’s Clean Air Solutions business, which focuses on pollution abatement technologies for stationary engines, gas turbines and coal-fired power plants. The acquisition is designed to enhance JM’s positioning in a structurally growing emissions control market, underpinned by stricter environmental regulation and rising electricity demand driven by data centre expansion and distributed power generation. It significantly broadens JM’s technological and geographic footprint across North American and global power markets. The combination is expected to create a more integrated global platform in stationary emissions control, leveraging complementary product portfolios, industrial capabilities and customer relationships. It also supports consolidation dynamics in the catalyst market, with increased focus on technology integration, lifecycle services and cross-regional industrial optimization between Europe and the United States.

This transaction represents Cosmogen's first external growth initiative since its spin-off and is a transformative step to double its operational scale. Driven by its controlling shareholder, Weinberg Capital Partners, the acquisition aims to create a new global reference in the premium beauty packaging market, the Cosmogen & Asquan Group. The strategic rationale is founded on the strong complementarities between the two entities. Cosmogen contributes its deep expertise in patented, technical applicators and its established relationships with major European beauty conglomerates. Asquan provides a broad, multi-category product portfolio, a significant foothold in the dynamic U.S. market through its work with independent brands, and well-regarded operational processes. This merger creates a more resilient and diversified group with an expanded product catalog, a balanced geographic footprint, and a wider client portfolio. The deal is a direct response to the consolidation trend within the wider cosmetics industry, giving the combined entity the critical size required to serve global brands more effectively and enhance its competitive positioning. The integration process is reinforced by the founder of Asquan joining the new group's leadership as Chief Operating Officer.

Saica Group has announced a definitive agreement to acquire 100% of Thimm Group, a premier European provider of sustainable packaging and display solutions. This transaction represents a landmark corporate buyout within the European paper and packaging sector, uniting two industrial giants with a deeply institutionalized history of partnership, including a strategic sales alliance and an active joint venture in Poland. The acquisition thesis represents a major, transformational consolidation play designed to capture absolute market leadership within the Western and Eastern European packaging landscapes. By integrating Thimm Group, Saica Group successfully executes a major geographic expansion, establishing an immediate, large-scale operational beachhead in Germany and highly complementary Eastern European territories. The post-closing strategic rationale focuses on unlocking substantial operational efficiencies, capturing deep network synergies, and driving economies of scale across the unified corporate platform.

The acquisition of Simagec by Sterimed is a strategic move to expand Sterimed's service offering to medical device manufacturers and pharmaceutical companies. The deal complements Sterimed's existing operations and enables the company to further strengthen its position in the medical packaging market. Simagec's expertise in rigid and flexible packaging solutions, contract packaging, and validation services will enhance Sterimed's capabilities and provide a more comprehensive range of services to its customers. The acquisition is also expected to accelerate Sterimed's strategic growth in the pharmaceutical industry, where Simagec has established a strong presence. The deal is a testament to Sterimed's commitment to innovation and growth, and is expected to drive long-term value creation for the company's shareholders. With the integration of Simagec, Sterimed will be able to leverage the combined expertise and capabilities of both companies to drive growth and expansion in the medical packaging market. The acquisition is also expected to provide new opportunities for Simagec's employees and customers, as part of a larger and more diversified company.

The group has finalized an agreement to acquire the target from One Rock Capital Partners, a maneuver designed to fundamentally expand its manufacturing capabilities in the growing West Coast region. The strategic rationale for this transaction centers on a "network-flexibility" play, merging the target's industry-leading technical operational depth in recycled fiber milling with the group’s established global distribution and containerboard framework. This structural alignment provides the organization with the scientific talent and high-performance hardware (specifically the target's three specialized machines) required to address the increasing demand for lightweight, high-performance recycled packaging.

The Swedish investment holding has signed a definitive agreement to acquire a majority interest in the target, marking its first transaction in the Italian market for the 2026 fiscal year. This operation follows a high-velocity acquisition pipeline aimed at consolidating a portfolio of high-performing "Made in Italy" industrial champions. The strategic rationale for the move centers on the integration of a highly profitable niche specialist into the group’s multidisciplinary industrial business area. By incorporating the target’s patented architectural mesh capabilities, the organization reinforces its ability to generate strong internal cash flow without reliance on external debt. The partnership is designed to leverage the group’s global industrialized operating model to scale the target’s international project reach while preserving its localized technical operational depth and founding management team. This integration facilitates the target's transition from a family-founded specialist to a core component of a global industrial platform, providing the strategic depth required to navigate the high-complexity global architectural market.

One Equity Partners acquired a majority stake in Giovanni Bozzetto from the Canadian diversified holding company Aimia Inc. and Paladin Private Equity. The transaction followed Aimia's brief ownership period (since May 2023), during which the group expanded into Central America via the acquisition of StarChem. OEP plans to leverage its industrial expertise to accelerate Bozzetto's international expansion, particularly in the Americas and Asia, while doubling down on "Green Chemistry" innovations.

Sagard acquired a majority stake in Essences & Parfums from Trajan, which exited the business alongside minority investors Bpifrance, Smalt Capital, and the original founders. The transaction, completed following a swift three-month competitive process managed by an investment bank, saw strong interest from both financial sponsors and industrial players. The current management team, led by President Samuel Desprets, significantly reinvested in the deal. The transaction was financed via a unitranche debt facility provided by Eurazeo. The strategic roadmap under Sagard's ownership focuses on establishing local offices in the Middle East and Asia to strengthen the group's regional proximity and launching an external growth strategy to consolidate the fragrance market.

Stratus Packaging acquired Freppel Imprimeur to strengthen its geographic coverage in Eastern France (Alsace) and Germany. This integration allows Stratus to pass the milestone of EUR100M in turnover and consolidate its position in the wine, spirits, and luxury markets. The deal brings significant industrial synergies, particularly in conventional and digital printing technologies, and adds a 9th production site to the group's network. Freppel's management and its 60 employees joined the group to support this long-term growth vision.

Wendel signed an agreement for the sale of the entire share capital of Stahl to the German industrial group Henkel. The transaction was intermediated by two leading international investment banks. This operation marks the exit of Wendel after a 20-year investment period, as well as the exit of industrial partners BASF and Clariant. The scope of the sale excludes leather chemical activities, which were previously carved out into a new entity named Muno. For Wendel, this historic exit generates net proceeds of EUR1.2 billion, representing a multiple of 6.6x its total investment and an annualized IRR of over 15%. The transaction allows Stahl to join a global industrial group capable of accelerating its technological deployment in the flexible materials market.