German-based commodity distributor, Solvadis acquired by Japanese trading group, Sojitz.
March 1 2017, David R BrownTweet
Sojitz Corporation has signed an agreement to acquire 100% of the shares in Solvadis from Special Situations Venture Partners 2 (SSVP 2), a fund advised by Orlando Management AG (Munich), a leading PE investment advisor. Through the acquisition, Sojitz’ aims to become a global player within the methanol industry. Sojitz also aims to create synergies with Solvadis’ other basic and specialty chemical activities within their global sales network. Alantra advised Sojitz on the deal which is subject to the usual regulatory approvals.
This agreement will create value and invigorate our distribution and marketing networkAndreas Weimann
CEO of Solvadis Group
Solvadis is a well-established chemical marketing and distribution company in Europe which traces its roots back to 1881. It operates sales offices and logistics centers throughout Europe but mainly centered on Germany. The company is recognised for its strengths in sales of basic chemicals such as sulphur, sulphuric acid, and in particular, methanol, of which it handles more than 1 million tpa. Sojitz Group, on the other hand, produces and sells methanol in the Asia region, with sales of more than 1 million tons annually and through the purchase of Solvadis aims to double the volume of methanol it sells and enhance the company's position as a global player within the methanol industry (competing with the likes of Helm AG).
“We are extremely pleased that solvadis will be our dedicated marketing company in the European region,” said Tsutomu Tanaka, MEO of Sojitz Corp., “solvadis's industry knowledge and logistics network will provide suppliers and customers with the highest possible service in the industry.”
“This agreement will create value and invigorate our distribution and marketing network with a higher key competence in our defined business fields,” said Andreas Weimann, CEO of solvadis group.
Sojitz Corporation based in Tokyo, is one of Japan's largest trading companies with more than 400 subsidiaries and affiliates across the world. Sojitz produces and sells around a million tonnes of methanol a year, which is mainly used in the manufacture of paints, plastics and pharmaceuticals.
About Solvadis Group
Solvadis is a group of 10 companies involved with the international marketing and distribution of sulphur, sulphuric acid, methanol, fertilizers and solvents as well as specialty chemicals and polymers. The company was orginally part of the former chemical business of Metallgesellschaft AG and became independent in 2004 when it was bought by funds advised by Orlando Management. In 2016, the company employed around 140 people and generated revenues of around EUR 520 million.
Source(s): Solvadis Press Release
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