28-avril-2021

goetzpartners advised PINOVA Capital and the minority shareholders of Deurowood on the sale of their shares to Freudenberg Chemical Specialities

Deal announcement

goetzpartners was mandated as exclusive M&A and debt advisor by PINOVA Capital and the minority shareholders of Austria-based Deurowood Holding GmbH (“Deurowood” or the “Company”), a globally leading full-range supplier of innovative and safe-to-use chemical additives for paper impregnation and the production of laminates, on the sale of their shares to Freudenberg Chemical Specialities Munich GmbH ("FCS"), a developer, manufacturer, and marketer of chemical specialities, and part of the internationally acknowledged technology group Freudenberg.

Deurowood develops, manufactures and sells catalysts, process and functional additives, pigment dispersions and other special products for the impregnation of paper, production of laminates, and wood composites. Companies worldwide appreciate Deurowood’s service attitude, know-how, comprehensive product range and readiness to aim for tailor-made solutions. To meet the high demands placed on its products, the Company recognizes that quality, environment, and occupational health and safety are topics of equal importance.

“We have been pursuing an active acquisition strategy for many years with a view to expanding our existing businesses by further value added products, technologies and services. Impregnation solutions for paper, the manufacturing of laminates and in particular for wood engineering applications are perfect additions to our existing portfolio of chemical specialities”, says Filip Krulis, CEO FCS. “With Deurowood in our portfolio, we will enlarge our existing footprint in the paper and wood material segment and will develop it strategically.”

“Much like some of the already existing Business Units of FCS, Deurowood has advanced the industry with performance-oriented products and quality services”, said Günther Tappeiner, Managing Director at Deurowood. “We aspire to rank among the leading full-range suppliers worldwide in the area of innovative and safe-to-use chemical additives for paper impregnation and laminates production. Our primary focus is on the wood materials industry. As several existing FCS businesses serve these segments as well, we expect many opportunities for intra-company collaboration and technical development“, he added. We are happy that PINOVA Capital supported us in making this step forward in our development”, he added.

„It was of particular importance for us as the majority shareholder of Deurowood to find a strategic partner of which the customers will benefit from as well. With FCS we know that Deurowood will be in good hands“, Herbert Seggewiß, partner at PINOVA Capital GmbH explained. “The companies of the FCS group and Deurowood are known for high quality and leading-edge products, advanced technologies and exceptional support and service”, he added.

The transaction was goetzpartners’ second mandate for the sale of Deurowood following the successful carve-out of the Company from Deurotech Group, a globally operating industrial group comprising specialist suppliers to the wood processing industry, back in December 2016.

goetzpartners acted as sole and exclusive M&A sell-side and debt advisor to PINOVA Capital and the minority shareholders. This transaction underlines our competence as advisor in the DACH region and within the Chemical industry. Furthermore, this transaction proves the success of goetzpartners' integrated Transaction Advisory Group (M&A, Debt Advisory, CDD & Strategy) for strategic as well as financial sponsor clients.

ABOUT DEUROWOOD
Deurowood, founded in 2003 and headquartered in Hard, Austria, is a supplier of additives for the global paper impregnation industry and provides special expertise in the application field of engineered wood.

ABOUT PINOVA CAPITAL
PINOVA Capital is an independent private equity firm investing in high-growth technology companies in German-speaking regions. PINOVA Capital focuses on “Mittelstand” companies with sales between €10 million and €75 million in the sectors industrial technology and information technology, characterized by significant growth potential, sustainable competitive advantages and a strong market position in their niche.

ABOUT FREUDENBERG CHEMICAL SPECIALITIES
Freudenberg Chemical Specialities develops, manufactures and markets chemical specialities. To be close to its customers, the company is represented globally in the market with its five brands, Klüber Lubrication, Chem-Trend, OKS, SurTec and Capol. Freudenberg Chemical Specialities is one of the global leading manufacturers of specialty lubricants, release agents, chemotechnical maintenance products, and solutions for surface and galvanic technologies as well as polishing agents, glazes and release agents for the food-processing industry. Headquartered in Munich, Germany, the Business Group runs its own companies in some 40 countries. Freudenberg Chemical Specialities employs about 3,800 people and generated sales of about € 1.1 billion in the year 2020.

TRANSACTION TEAM

M&A
Christian Muthler
Managing Director
Email

Gerwin Weidl
Director

Fabio Riva
Associate

Sven Langelahn
Analyst

DEBT ADVISORY
Philipp Widmaier
Managing Director
Email

Maximilian Zeiler
Associate Director