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Chemical company acquires competitor

Chemical company acquires competitor

Aaron Kenevan

An international team has advised Advent International and Allnex on their acquisition of Nuplex Industries.

Firms: Allen & Overy (Advent International and Allnex)

Deal: Advent International and its portfolio company Allnex acquired Nuplex Industries Limited.

Value: Undisclosed

Area: M&A

Key players: The international Allen & Overy team was led by partners Dr Helge Schäfer in Hamburg and Aaron Kenavan (pictured) in Sydney with support from over 170 fee-earners across multiple practice groups in 19 Allen & Overy offices.

Deal significance: Coating resins and additives producer Allnex is a portfolio company of global private equity firm Advent International.

Allnex has a strong global presence, with 17 manufacturing sites and 12 research and technology support facilities throughout the world, focusing on assisting its 3,000 customers to rapidly bring advanced coating solutions to market.

Advent International and Allnex have acquired chemicals company Nuplex Industries Limited, which is listed on the NZX and the ASX and has 16 production sites located across Asia, Europe, America, Australia and New Zealand.

Allnex and Nuplex signed an agreement in April 2016 to implement a scheme of arrangement, through which ownership of Nuplex will be transferred to Allnex.

The approvals by Nuplex shareholders, the New Zealand High Court as well as all antitrust approvals in a number of countries are now completed.

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