IK divests Unipex subsidiary Lucas Meyer Cosmetics for €283m

IFF has lodged a binding offer with Paris-headquartered speciality chemicals company Unipex and the deal is expected to close by the end of Q3 2015, subject to consultations with Unipex's French works council.

The deal marks a partial exit for IK, which acquired the company in 2012 through its €1.675bn Industri Kapital 2007 fund.

Unipex CEO Patrice Barthelmes said the sale of Lucas Meyer Cosmetics would give Unipex the opportunity to concentrate on its core business as a speciality chemicals distributor for the pharmaceutical, fine chemicals, cosmetics and nutrition industries.

Company
Lucas Meyer Cosmetics is a Quebec-headquartered division of Unipex that manufactures and markets ingredients for the cosmetic and personal care industry.

The company was originally founded in Germany in 1923 as Group Lucas Meyer, but was rebranded as Lucas Meyer Cosmetics in 1999 and formed part of the creation of Unipex Group in 2008.

Lucas Meyer Cosmetics employs 90 people and had sales of €35m in 2013.

People
Dan Soudry, Rémi Buttiaux, Arnaud Bosc and Thibaut Richard worked on the deal for IK. Patrice Barthelmes is the CEO of Unipex Group. Antonio Lara is vice president and general manager of Lucas Meyer Cosmetics.

Advisers
Vendor – Lazard, Alexandre Benais, Matthieu Guillard, Anne-Lyne Bancalin, Augustin Derquenne (Financial due diligence); Willkie Farr & Gallagher, Eduardo Fernandez, Philippe Grude, Elise Carrera, David Lambert, Gregory De Saxce (Legal)
Equity – Cleary Gottlieb Steen & Hamilton (Legal)

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• Topics
• France
• Exits
• Industrials
• France
• IK Investment Partners
• lazard
• Partial sale
• Unq2015July