BC Partners sells stake in Brenntag for €577.5m

BC Partners, Bain Capital and Goldman Sachs owned shares in Brenntag through investments in Luxembourg-based holding company Brachem Acquisition SCA.

Brachem sold all of its seven million shares at €82.50 per share, reducing its stake to 13.6% of the entire share capital of Brenntag. Goldman Sachs acted as sole bookrunner in the accelerated bookbuilt offering. Following the divestment, Brachem has entered into a 180-day lock-up period.

Brenntag floated in March 2010 on the Frankfurt stock exchange, four years after BC Partners' initial investment in the chemicals company. The initial offering was priced at €50 per share and raised €747.5m. Goldman Sachs, Deutsche Bank, JP Morgan and Bank of America were joint bookrunners in the IPO.

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