Evonik acquires Silica business of Huber

The Valence Group has advised Evonik on its acquisition of the silica business of J.M. Huber for $630 million. Huber Silica is a world class, global precipitated silica business, focused primarily on dental and life science applications, with revenue of close to $300 million and an EBITDA of $60 million in 2016. The business is highly complementary to Evonik’s silica business in predominantly tires, coatings and industrial applications, and Evonik expects to generate sustainable EBITDA synergies of $20 million by 2021. Additionally, the transaction is structured to yield $80 milion in net present value tax benefits to Evonik.

The acquisition, announced on Dec 9, 2016, is scheduled to be completed in the second half of 2017, subject to approval by the responsible authorities.

The Valence Group also acted as financial advisor to Evonik on its $3.8 billion acquisition of Air Products’ Performance Materials business.