Tessenderlo Group (NYSE Euronext: TESB) announced today the sale of its subsidiary Chelsea Building Products Inc. (US) to Graham Partners, a US-based, privately-held investment company. The Valence Group provided M&A advisory services to Tessenderlo on the transaction.
Chelsea Building Products designs and produces PVC profiles for windows and doors and specialty products for the US remodeling and new construction market.
Joshua Hay, Partner at The Valence Group commented: This divestment marks another step in Tessenderlos strategic transformation into a specialty chemical company.
Peter Hall, Partner at The Valence Group said: This is the third divestiture on which we have advised Tessenderlo in 2011. Were pleased to have been able to play a continuing role in supporting the Tessenderlo team as they reconfigure their portfolio.
About Tessenderlo Group
Tessenderlo Group is an international chemicals company with over 100 locations worldwide. More than 8,000 people work for the group. The group is a world and European leader in most of its product areas with a consolidated revenue totaling 2.4 billion EUR in 2010. Tessenderlo Chemie NV is listed on Eurolist by Euronext Brussels and is part of Next 150 and BEL Mid indices. Financial News wires: Bloomberg: TESB BB “ Reuters: TesBt.BR Datastream: B:Tes
About The Valence Group
The Valence Group is a specialist M&A investment bank offering advisory services exclusively to companies and investors in the chemicals, materials and related sectors. The senior members of The Valence Group have more than 250 years of collective transaction experience and have closed M&A transactions in over 100 different chemicals/materials subsectors. The Valence Group team includes a unique combination of professionals with backgrounds in investment banking, strategic consulting and senior management within the chemicals and materials industries, all focused exclusively on providing M&A advisory services to the chemicals and materials sector. The firm’s offices are located in New York, London, and Shanghai.