CVC acquires DSM's chemicals division in €600m deal

The deal gives the asset an enterprise value of €600m, with an additional earnout option of up to €175m.

DSM, a listed Netherlands-based life sciences and materials business, will retain a 35% stake in the division following completion of the transaction.

The deal is part of DSM's strategy of divesting non-core assets, and will allow the business to focus on its nutrition and performance materials activities.

The vendor will also provide a €100m bridging loan for the transaction, which is expected to close in Q3 2015.

Company
Headquartered in Heerlen, DSM is a life sciences and materials company. The polymer intermediates and composite resins division has a headcount of 1,950 and generated revenues of €2.1bn in 2014, with EBITDA of €106m.

People
Steven Buyse is a partner at CVC. Feike Sijbesma is CEO and chairman at DSM.

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• Topics
• Buyouts
• Industrials
• Benelux
• Netherlands
• CVC Capital Partners
• Unq2015Apr