Advent buys Mondo Minerals in SBO

The new owner will support Mondo's organic growth plans as well as seeking acquisitions, with a particular focus on entering new markets in China, India and South America.

Financial details have not yet been disclosed. The transaction is subject to regulatory approval and a works council consultation.

Debt
A senior debt package was arranged by BNP Paribas, IKB Deutsche Industriebank and RBC Capital Market. A mezzanine facility has been provided by Ares Capital Management Europe.

Previous funding
HgCapital acquired Mondo Minerals in December 2007 when it spun out from Omya. HgCapital's strategy was to pursue strategic add-ons to expand the company's geographic and market scope.

Company
Mondo Minerals B.V is one of the world's largest producers of talc. It provides talc for paper, paint, coatings and plastics applications. It is growing its presence in niche applications of talc including technical ceramics, food and personal care.

The company is headquartered in Amsterdam with a major talc ore reserve in Finland.

People
Michael Ogrinz, director, worked on the deal for Advent International. Christian Kather is CEO of Mondo.

Advisers
Equity - HSBC (Corporate Finance); Allen & Overly (Legal); KPMG (Financial & tax due diligence); BCG (Market due diligence); ERM (Environmental due diligence).

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