Iberchem and Scentium to carry on expansion plan with Eurazeo as new financial sponsor
- Scentium Flavours
- 3 July, 2017
- Categories: Sin categoría
Iberchem and Scentium are pleased to introduce Eurazeo, one of the leading listed investment companies in Europe, as their new financial sponsor. The transaction is set to benefit both companies in pursuing their expansion plan by enlarging their workforce as well as their R&D installations and production plant. It also strengthens the companies’ will to extend their footprint in new markets, consolidate their operations on the existing ones and accelerate their growth in key sectors of the fragrance and flavour industry.
“We are glad to partner with Eurazeo because of their long-term investment horizon, corporate culture as well as their ability to help Iberchem strategically, notably on external growth, especially thanks to their presence in Asia and South America,” said Ramón Fernández, CEO and founder of Iberchem. “Eurazeo also has the know-how to assist the company in strengthening its talent pool to support long-term growth. Iberchem will be able to continue on its successful path and increase its leadership through organic growth in both new and existing markets and through selective M&A.” added Mr. Fernández.
Since their foundation in 1985, Iberchem and Scentium (grouped under Iberchem Corporation) have shown a solid and continuous double-digit organic growth. From 2012 to 2016, sales grew in average by 18% annually. As of May 2017, the company generated LTM sales of €117 million.
Headquartered in Paris, France, Eurazeo has a diversified portfolio of approximately €6 billion in assets under management, of which €1 billion is from third parties. Eurazeo has confirmed a long-term equity ticket of €270 million in Iberchem, which has an enterprise value of €405 million. The management team of Iberchem will maintain its actual 30% stake and Eurazeo the remaining 70%. The transaction is expected to be closed later in July.
Eurazeo will support Iberchem’s and Scentium’s management team in the next phase of the development of the company, while preserving their unique DNA as the leading supplier of value for money fragrances and flavours for local brands worldwide.