Alchemy exits Endeka via trade sale

The transaction saw the GP sell its controlling stake to trade buyer Ferro Corporation. Local publication Expansión valued the deal at €70m.

In January 2007, Pamplona Capital Partners acquired the ceramics division of speciality chemicals group Johnson Matthey for €226m.

Alchemy then acquired a controlling stake in the business in October 2014 through a debt restructuring plan. The restructuring saw Endeka convert €228m of senior loans to equity instruments.

Company
Founded in 1994 and headquartered in Valencia, Endeka is a supplier of raw materials to the ceramics industry. Its product portfolio includes stains, colors, glazes and frits.

According to local press reports, the business posted €100m in revenues in 2016.

People
Alchemy Special Situation – Bob Hewson (director).

Advisers
Company – Montalbán (corporate finance).

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• Topics
• Exits
• Industrials
• Southern Europe
• Trade sale
• Spain
• Alchemy Partners LLP