February 27, 2013
The Valence Group has acted as M&A advisor to Tessenderlo Group on the intended sale of its Compounds activities to Mitsubishi Chemicals Corporation. Terms of the transaction were not disclosed.
Tessenderlo’s Compounds business unit employs 360 people and focuses on the formulation and production of thermoplastic elastomers (TPE) and PVC compounds for the building, automotive, cabling, manufacturing and footwear industries. The sale comprises four production sites in France, Poland and China, and an R&D site in Belgium.
Tessenderlo Group is a worldwide specialty chemicals company, focused on food, agriculture, water management and the valorization of bio-residuals. The group employs about 7,500 people and is a leader in most of its markets, with consolidated 2011 revenue of €2.1 billion. Tessenderlo Chemie NV is listed on NYSE Eurolist by Euronext Brussels and is part of Next 150 and BEL Mid indices.
About The Valence Group
The Valence Group is a specialist investment bank offering M&A advisory services exclusively to companies and investors in the chemicals, materials and related sectors. 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.