PSB INDUSTRIES (HEALTHCARE & INDUSTRY) acquired by CLAYENS GROUP

Croda International has acquired Iberchem Group from the French private equity firm Eurazeo. This acquisition provides Croda with an immediate, high-growth platform in the global Fragrances & Flavours (F&F) market. The deal allows Croda to offer "full formulation" solutions to its customers (combining active ingredients with scents). Iberchem will continue to operate as an independent entity to preserve its agile culture. The transaction was funded via a combination of existing debt facilities and an equity placement.

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.

Private equity firm Cerea Partners, utilizing its Cerea Capital II fund, has completed the acquisition of family-owned group Axium through a primary LBO transaction. As part of this deal finalized on June 25, 2020, Bpifrance has joined the consortium to acquire a minority equity stake in the business. Historical CEO Yves Cury and his management team have demonstrated their ongoing commitment by reinvesting significantly in the newly formed corporate structure. The transaction facilitates the exit of the former shareholders, which include the Cury family and Crédit Mutuel Equity SCR. The acquisition financing was structured via a bank syndicate arranged by Caisse d'Epargne, featuring participation from La Banque Postale, CIC, Banque Populaire, and Crédit Agricole. The sell-side was advised by Mazars Corporate Finance, while Joffe & Associés and Advance Capital were among the advisory syndicate supporting the buyers. For majority investor Cerea Partners, the buyout secures operational control of a leading specialist in recyclable (PET) and recycled (R-PET) plastic packaging tailored for the food, health, hygiene, and beauty sectors. Leveraging its operational footprint of five production sites across France, Germany, and the Czech Republic, Axium will utilize this institutional backing to tackle future ecological and industrial challenges, aligning its trajectory firmly with the circular economy.

Sparring Capital acquired a majority stake in Pure Trade alongside the management team. The transaction marked the first deployment of the Sparring Capital Fund 2. The partnership was strictly engineered to accelerate Pure Trade’s international expansion—particularly in the United States—and to professionalize the group’s organization while participating in sector consolidation via external growth. Pure Trade had demonstrated solid fundamentals with an annual growth rate of nearly 20% p.a. over the five years leading up to the transaction.

Alliance Etiquettes has completed its eighth external growth operation since 2015 with the acquisition of 100% of the share capital of 5 Sept Etiquette. This strategic transaction significantly reinforces the group's presence in the Southeastern France region (Provence / Rhone Valley), a critical area for premium wine production. The deal integrates a company with unique digital know-how and a complementary client portfolio. While the financial terms were not disclosed, the acquisition adds EUR12 million in revenue to Alliance Etiquettes, further consolidating its position as a market leader. The founder of 5 Sept Etiquette, Patrick Wack, exits the business following this transaction.

Poncin Metal underwent a management buyout supported by Sofimac Regions and Esfin Participations. The transaction allowed for a smooth leadership transition while providing the capital needed to pursue an ambitious modernization plan. The investment thesis focused on Poncin Metal's strong positioning in high-value-added industrial subcontracting and its potential to capture new markets through technological upgrades.

This control transaction represents the full acquisition of Bal Seal Engineering by Kaman Corporation, executing on a defined capital reallocation script following Kaman’s strategic divestiture of its low-margin automation and fluid power distribution units to Littlejohn & Co. The transaction allows Kaman to deploy its substantial cash reserves into an asset class featuring high structural gross margins and recurring consumable revenue streams, pivoting the group’s portfolio toward highly resilient medical technology and proprietary aerospace verticals. Operational integration will leverage Kaman's global sales channels to cross-sell Bal Seal’s customized seals and contact technologies into overlapping military and commercial aviation programs while preserving management continuity under Rick Dawson to maintain critical engineering relationships with original equipment manufacturers. Post-closing operational priorities will focus on expanding manufacturing capacity to capture unexploited organic demand, institutionalizing raw material polymer and alloy procurement workflows, and accelerating near-term cash flow accretion by leveraging the combined group’s shared production overhead.

Cobepa S.A. has acquired a majority stake in Gerflor SAS from Intermediate Capital Group (ICG) and other shareholders, including Credit Mutuel Equity. Following the transaction, ICG (which had owned the company since 2011) will retain a significant minority stake. The deal was finalized in late January 2020 after receiving approval from the European Commission. The strategic rationale for the acquisition is to strengthen Gerflor’s market leadership and accelerate its international expansion, particularly in North America and Asia. Under ICG’s previous ownership, the company more than doubled its revenues, reaching the €1 billion milestone through a mix of organic growth and strategic bolt-on acquisitions. The new ownership structure under Cobepa is designed to provide the long-term capital necessary to pursue further external growth and leverage Gerflor’s expertise in high-growth niches like sports and healthcare flooring.

Green Arrow Capital has acquired a majority stake in Poplast from Eos Investment Management (which held 86.5%) and minority operating partners. The management team, including Carlo Callegari and Pierangelo Fantoni, has reinvested in the company. The deal values the company at over EUR110 million. The acquisition aims to create a "Green Packaging" pole by aggregating other companies in the flexible packaging sector that focus on recyclable and compostable materials. The transaction was financed by Credit Agricole Italia and Deutsche Bank.

The August 2019 transaction represents a complex corporate carve-out of Sintex NP from its listed Indian parent conglomerate, Sintex Industries, effectively repatriating the company’s ownership and governance into a domestic private sponsor-backed structure. This primary LBO is led by Siparex ETI 4 alongside its financial co-investors and features a substantial management equity reinvestment from a tier of twenty key corporate executives led by CEO Eric Pisani, ensuring complete operational alignment and leadership stability. The ownership transition is driven by the parent company’s strategic mandate to divest its high-performing European manufacturing division to alleviate liquidity pressures and optimize its domestic balance sheet. The capitalization of the transaction is supported by a comprehensive senior secured credit facility arranged and underwritten by a banking syndicate led by CACIB, which replaces the target's historical intra-group financing lines and establishes independent balance sheet flexibility.