AXA PE's Novacap buys part of Rhodia

The combined businesses were renamed Novacyl, a newly created company within Novacap. Novacyl generates revenues of €100m and employs approximately 360 staff, with production sites located in France, Thailand, China and Brazil.

AXA Private Equity acquired Novacap from Bain Capital in January this year, in a deal that valued the company at €240m. It had already presented the management team with potential international targets for acquisition at the time of the buyout.

Novacap and AXA Private Equity believe this bolt-on will help the business expand in resilient markets and will also accelerate its international expansion – notably in Asia and the Americas.

Company
Novacyl is an aspirin and salicylic acid producer. Its solutions are used mainly in the pharmaceutical industry (analgesics) as well as for cosmetics and fragrance applications.

Novacap is a Lyon-based diversified group that produces and sells mineral and organic chemical products. It employs around 470 people across its industrial units and posted a €470m turnover for 2010.

People
Thibault Basquin led the deal for AXA Private Equity. Pierre Luzeau is CEO of Novacap.

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• Topics
• France
• Industrials
• Expansion
• France
• Axa Private Equity
• Acquisition finance