SIPAREX takes majority stake in CLAYENS GROUP
Context
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.
CLAYENS GROUP, which reported an EBITDA margin of in 2018, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Industry & Manufacturing sector (11.6x).
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Target
Headquartered in Genas, France, Clayens Group is an outsourced contract manufacturer specializing in high-performance polymers, advanced composites, and precision metals. The company operates a manufacturing footprint of 25 facilities across Europe, North Africa, and North America, delivering high-specification components processed through thermoplastic and thermoset injection, metalloplastics, and precision metal machining. Revenue is generated from blue-chip multinational original equipment manufacturers and tier-1 suppliers in the aerospace, automotive, healthcare, electronics, and construction sectors. Client engagements are structured under multi-year procurement agreements tied directly to individual customer product lifecycles, with initial customer acquisition locked in during early-stage collaborative research and development and rigorous technical component qualification phases.
Ent. Value
Equity Value
Multiples
EV / Revenue
EV / EBITDA
EV / EBIT
Historical Financials (EUR)
Other operations with CLAYENS GROUP
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 07/2022 | ONE EQUITY PARTNERS | CLAYENS GROUP | FRANCE | Plastics |
| 09/2020 | CLAYENS GROUP | PSB INDUSTRIES (HEALTHCARE & INDUSTRY) | FRANCE | Plastics |
REFERENCES
Revenue range: 250M - 500M EUR
EBITDA range: 25M - 50M EUR
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Target: clayens group
Acquirer: siparex