POLYTEC PT acquired by ARKEMA

Michelin has successfully completed the acquisition of 100% of the share capital of Flex Composite Group (FCG) from the investment firms IDI and Andera Partners. This transaction is a cornerstone of Michelin's strategy to expand its "High-Tech Materials" division beyond tires. By integrating FCG, Michelin creates a new powerhouse in polymer composite solutions, unlocking deep innovation synergies. FCG's expertise in engineered fabrics and films perfectly complements Michelin's own R&D capabilities, allowing for cross-fertilization in product development for sectors like electric mobility and sustainable construction. The deal is expected to increase the revenue of Michelin's High-Tech Materials business by approximately 20% and is accretive to the group's margins.

AGIC Capital acquired a majority stake in Pure Trade from Sparring Capital, which had held the investment since February 2020. During Sparring's holding period, the group demonstrated strong resilience through the Covid crisis and expanded its global footprint with offices in Paris, Barcelona, Hong Kong, Shenzhen, Shanghai, and New York. The transaction is designed to support the next phase of international development, particularly in the US and Asia, as the group targets €90M in revenue for 2023. CEO and Founder Stefane Ladous, along with the existing management team, reinvested in the transaction to drive continued growth.

Trajan acquired a majority stake of less than 60% in Essences & Parfums to facilitate the founders' retirement and the company's succession. The founders rejected acquisition offers from corporate groups to preserve the brand's independence, opting instead for a financial partnership. The deal was structured as a competitive process involving several sponsors: Bpifrance and Smalt Capital acquired approximately 20% of the capital, the founders retained about 20%, and the new management team took a stake of less than 10%. The acquisition was financed via a two-tranche senior debt package and a lease-back arrangement for the company's real estate. The strategic plan focuses on ensuring a smooth leadership transition while exploring organic growth opportunities and potential build-ups to strengthen the group's international presence.

The acquisition of Tapì by Stirling Square Capital Partners marks a significant milestone in the company's history, as it transitions from Wise Equity's ownership to a new phase of growth and development. The strategic rationale behind the deal is rooted in Stirling Square's recognition of Tapì's market-leading position in the luxury closures market and its potential for further expansion. With its strong brand reputation, innovative products, and global customer base, Tapì is well-positioned to capitalize on the growing demand for premium and luxury packaging solutions. Stirling Square's investment will support Tapì's continued growth, both organically and through strategic acquisitions, as the company seeks to consolidate its position in the global market. The deal also reflects the increasing importance of sustainability and ESG considerations in the packaging industry, as Tapì's commitment to environmental responsibility and social accountability aligns with Stirling Square's values and investment philosophy.

Aimia Inc. acquired a majority stake (~94%) in Giovanni Bozzetto S.p.A. from Chequers Capital and other minority shareholders. The transaction was a partnership with Paladin Private Equity, which received an option to acquire up to 19.9% of the equity. The strategic goal was to leverage Bozzetto’s ESG leadership to expand into the Americas and Asia through organic growth and accretive M&A.

Holcim has successfully entered into a definitive agreement to acquire 100% of Duro-Last, a move that establishes the group as a dominant force in the North American commercial roofing market. This strategic transaction marks a significant acceleration of the group’s "Strategy 2025," aimed at expanding its Solutions & Products division to represent 30% of total group sales. The strategic rationale centers on the integration of a highly profitable, high-growth platform that complements the group’s existing building envelope portfolio through proprietary thermoplastic technology and custom-made roofing solutions. By incorporating the target’s specialized R&D capabilities and manufacturing infrastructure, the group significantly strengthens its leadership in sustainability, particularly through advanced recycling and energy-efficient roofing systems. The partnership is designed to generate substantial industrial synergies by leveraging the group’s global distribution power and the target’s strong customer relationships in the US. This integration allows for a comprehensive end-to-end service offering in the lucrative commercial refurbishment and green building sectors. This move reinforces the group’s standing as a primary consolidator in the high-margin North American industrial construction landscape.

This transaction represents the transition of Mearthane Products Corporation from a family-founded mid-market business into a well-capitalized institutional platform, marking the fourth corporate investment executed via Compass Group Fund II. The transaction is designed to inject the growth capital and strategic corporate development resources necessary to transform a localized polymer specialist into a scaled, multi-technology consolidator of the highly fragmented advanced materials and thermoset polyurethane sectors. Operational continuity is preserved through the retention of the current executive leadership team, including President and Chief Executive Officer Pete Kaczmarek, which ensures the defense of legacy original equipment manufacturer account relationships and the preservation of long-standing chemical processing intellectual property. Post-closing capital allocation priorities focus on deploying a dual-track value generation strategy that combines the modernization of sales operational frameworks to capture unexploited organic capacity with an aggressive programmatic buy-and-build campaign. The institutional backing of Compass Group will provide the required M&A sourcing infrastructure, transaction execution expertise, and debt facility syndication to complete bolt-on acquisitions of smaller regional urethane compounders, expanding the combined entity’s geographic reach and diversification across high-barrier technical manufacturing verticals.

Motion Equity Partners acquired a majority stake in Tournaire alongside the founding family to accelerate the group's global development and industrial modernization. The strategic rationale is built on two pillars: geographical expansion into new high-growth markets and the capitalization on the environmental trend favoring aluminum as a sustainable, recyclable alternative to plastic packaging. Motion intends to leverage Tournaire's unique product range to capture market share in the pharmaceutical and fine chemical sectors while implementing an ambitious buy-and-build strategy to consolidate the specialized technical packaging market in Europe and North America.

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. This transaction serves as a highly synergistic platform investment designed to significantly scale the North American footprint of the buyer. The acquisition perfectly aligns with a broader sector consolidation strategy, allowing the parties to merge their existing US operations to maximize manufacturing efficiencies at the New Jersey facility. Combining resources will unlock substantial procurement synergies and deepen the value-add product offering available to the joint customer base. This deal acts as a strong signal for ongoing cross-border sector consolidation within the specialty chemicals and fragrance ecosystem, where well-capitalized global players actively deploy dry powder to capture specialized regional assets. It underscores the market appetite for value-accretive bolt-on acquisitions that immediately enhance regional manufacturing capacity.

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. The transition of ownership to One Equity Partners is timed to capitalize on macro-driven industrial re-shoring trends, as multinational OEMs shift production volumes from China back to European and North American manufacturing hubs amid increasing supply chain constraints. Moving forward, the post-acquisition operational agenda focuses on accelerating Clayens' transition from a regional European champion into a global outsourced manufacturing platform by leveraging One Equity Partners' capital and pipeline in North America to execute cross-Atlantic transformational combinations. The immediate growth strategy prioritizes scaling existing facilities in North America and Eastern Europe, increasing utilization across the 25 operational sites, and pursuing target acquisitions to broaden specialized technical capabilities in high-margin sectors such as medical and aerospace components.