Mondo Minerals (Finland) - Nov 2007

unquote
01 November 2007

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HgCapital has acquired Mondo Minerals, a Finnish talc mining group, from Omya in a move to continue to expand the company. The investor directly approached the company and was attracted to the deal because industrial companies are one of its focus areas. Mondo Minerals is a spin-out from Omya Group and the new owner believes the company offers great upside potential as a separate unit. The investor plans to expand into high growth markets, based on its raw material resources, in Europe and beyond. The change from an industrial owner to a financial owner is expected to improve Mondo’s capability to pursue strategic add-ons in new locations and markets.

Debt

HSH Nordbank supplied a senior debt package and mezzanine to support the transaction.

Company

Mondo Minerals was created in 1998 as a merger of Norwegian, Finnish and Dutch talc mining companies, but the Finnish company dates back to 1967 under the name Suomen Talkki OY. Currently it employs 190 people and its customers include companies in various European industries including paper, paint, plastics, and ceramics. The group, which is headquartered in Kaavi, in Finland, has operations in two countries and supplies clients in more than 50 countries. In 2006 the company produced revenues of approximately €130m and was highly profitable.

People

Joachim Drees and Karsten Hartmann of HgCapital have been involved in the deal and will join the board of directors. Wulf-Dietrich Keller is the CEO of Mondo Minerals.

Advisers

Equity - Clifford Chance LLP, (Legal)Equity - KPMG, (Financial Due Diligence)Equity - Roskill, (Commercial Due Diligence)

Sourced from: Nordic unquote" 68 (Dec 2007)