mynth
← DATABASE
06/2022MajorityLBO

Equistone, IK Partners, Sagard, EMZ Partners & Societe Generale Capital Partenaires take majority stake in Safic-Alcan

FRANCE Chemicals & Materials / Specialty Chemicals EV €1–10bn

Context

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. This structure ensures Safic-Alcan remains an independent, management-controlled entity while securing the resources for continued international development.

In the past, Safic-Alcan was acquired by Sagard / Societe Generale Capital Partenaires / EMZ Partners in 2015 as part of its expansion strategy.

Safic-Alcan, which reported an EBITDA margin of [members only] in 2021, is valued in this transaction at an EV/EBITDA multiple of 10x–18x.

-> Deep-dive in Industry & Manufacturing market trends

Target

Safic-Alcan is a leading independent French distributor of specialty chemicals. The company serves as a critical intermediary between global chemical manufacturers and diverse industrial sectors, including rubber, coatings, cosmetics, pharmaceuticals, and nutraceuticals. Operating through a network of 32 offices worldwide, Safic-Alcan provides high-performance polymers, additives, and materials, backed by a team of highly specialized sales engineers. The group’s value proposition is built on technical expertise and long-term partnerships with both principals and customers.

Ent. Value

€1–10bn

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2021
€450–900M
€50–100M
[members only]
2020
€450–900M
€50–100M
[members only]

Other operations with Safic-Alcan

Other operations with Safic-Alcan
DateAcquirerTargetCountrySector
01/2015SAGARD / SOCIETE GENERALE CAPITAL PARTENAIRES / EMZ PARTNERSSAFIC-ALCANFRANCESpecialty Chemicals

Other operations with Equistone / IK Partners / Sagard / EMZ Partners / Societe Generale Capital Partenaires

Other operations with Equistone / IK Partners / Sagard / EMZ Partners / Societe Generale Capital Partenaires
DateAcquirerTargetCountrySector
09/2022ARKEA CAPITAL / SOCIETE GENERALE CAPITAL PARTENAIRES / BNP PARIBAS DEVELOPPEMENTACB GROUPBELGIUMElectronic Components
07/2022EQUISTONE / ALPINVESTSICAMEFRANCEElectrical Equipment
04/2022TIKEHAU CAPITAL / BPIFRANCE / SOCIETE GENERALE CAPITAL PARTENAIRESCROUZETFRANCESensors & Optics
02/2022IK PARTNERSSOFIA DEVELOPPEMENTFRANCEHealthcare
01/2022IK PARTNERSRENTA GROUPFINLANDEquipment Rental
01/2022SAGARDADIT (AGENCE POUR LA DIFFUSION DE L'INFORMATION TECHNOLOGIQUE)FRANCEConsulting & Audit
12/2021VIVALTO PARTNERS / IK PARTNERS / MACSF / ARKEA CAPITAL / BNP PARIBAS DEVELOPPEMENTVIVALTO SANTÉFRANCEClinics / Hospitals
12/2021SOCIETE GENERALE CAPITAL PARTENAIRESLAFRETO OUTDOOR (GLISS SHOP)FRANCESpecialized E-commerce
07/2021GARIBALDI PARTICIPATIONS / SOCIETE GENERALE CAPITAL PARTENAIRESMATERIEL VELOFRANCESport
07/2021EQUISTONEVERTBAUDETFRANCEFashion & Apparel

Similar deals in Chemicals & Materials

Similar deals in Chemicals & Materials
DateAcquirerTargetCountrySector
07/2022ONE EQUITY PARTNERSCLAYENS GROUPFRANCEPlastics
07/2022BC PARTNERS / BAIN CAPITALFEDRIGONI GROUPITALYLabels & Adhesives
06/2022BALMORAL FUNDSTRECORA RESOURCESUNITED STATESChemicals & Materials
06/2022LFM CAPITALNOVEXUNITED STATESPlastics
06/2022CLEARLAKE CAPITALINTERTAPE POLYMER GROUPUNITED STATESLabels & Adhesives
12/2021THE CARLYLE GROUPALTADIASPAINSpecialty Chemicals
11/2021RHONE CAPITALPARAGON FILMSUNITED STATESPlastic Packaging
10/2021GROUP ARAYMONDCASTELLO ITALIAITALYPlastics
09/2021ELEMENT SOLUTIONSCOVENTYAFRANCESpecialty Chemicals
08/2021BC PARTNERS / CPPIB (CANADA PENSION PLAN INVESTMENT BOARD)CERAMTECGERMANYGlass & Ceramics

REFERENCES

Valuation range: EV €1–10bn

Revenue range: €450–900M

EBITDA range: €50–100M

EV/Revenue range: 1x - 3x

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Safic-Alcan by Equistone / IK Partners / Sagard / EMZ Partners / Societe Generale Capital Partenaires are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in Safic-Alcan, a French company specialised in Specialty Chemicals, by Equistone, IK Partners, Sagard, EMZ Partners and Societe Generale Capital Partenaires in 2022, structured as a leveraged buyout (LBO). This followed an earlier holding cycle initiated in January 2015, when the company was acquired by Sagard / Societe Generale Capital Partenaires / EMZ Partners.

How was the acquisition of Safic-Alcan by Equistone valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €1–10bn band, its EV/EBITDA multiple within the 10x - 18x range, and its EV/revenue multiple within the 1x - 3x range. Exact figures are available to members.

What were Safic-Alcan’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Safic-Alcan generated annual revenue estimated in the €450–900M range and EBITDA in the €50–100M bracket (FY 2021). Detailed financial figures are available to members.

What sources support the information on this transaction?

Information on this transaction is supported by three corroborating sources: an official corporate announcement published by the parties, independent reporting from specialized financial publications, as well as a private document shared by the community and verified by the mynth team to ensure the accuracy of the shared information.

What is mynth?

mynth is the first free M&A database dedicated to Small & Mid-Cap transactions. We centralize Enterprise Values, revenue multiples, EBITDA multiples and transaction financials that are typically locked behind five-figure subscriptions on platforms like Capital IQ or Mergermarket. On mynth, searching and browsing deals is completely free. Our mission is simple: make professional-grade valuation intelligence accessible to every M&A advisor, independent consultant, Private Equity professional and student, without the burden of expensive annual licenses.