Avendus Capital advises Monarch Catalyst on its sale to Evonik Industries AG.

Service

Mergers & Acquisitions

Sector

Industrials

Date

March 2015

Deal Value

Undisclosed

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German chemical behemoth Evonik Industries AG (“Evonik”) has agreed to acquire Mumbai based catalyst manufacturer Monarch Catalyst Pvt. Ltd. (“Monarch”) for an undisclosed consideration. The transaction is expected to close in the first half of 2015 after the necessary approvals have been received. The acquisition is part of Evonik’s strategy to strengthen its global catalysts business and is expected to complement its leadership position in the activated base metal catalysts and precious metal catalysts space.

Avendus Capital Pvt. Ltd. was the sole financial advisor to Monarch for this transaction. Shantilal Vadalia, Chairman of the Board of Monarch Catalyst and co – founder of the company sees this transaction as a great opportunity for his company and its employees to continue their growth path within the frame of a leading global specialty chemicals company such as Evonik. “We are glad to see how well both businesses fit together in India and for the rest of the world, and Evonik’s plans for the production site in Dombivli” commented Mr. Vadalia

“This proposed acquisition continues the trend of global companies looking to acquire high quality businesses with leadership positions in their respective segments within the overall specialty chemicals space’’ added, Preet Mohan Singh, Executive Director & Head Industrials Group, Avendus Capital Pvt . Ltd.

About Monarch

Monarch is a family owned enterprise founded in 1973 by Dr K Muthukumar and Shantibhai Vadalia with its production site in Dombivli / India, near Mumbai. It is recognized as a global catalyst supplier and respected for its consciousness and efficient use of resources.

About Evonik

Evonik, the creative industrial group from Germany, is one of the world leaders in specialty chemicals. Profitable growth and a sustained increase in the value of the company form the heart of Evonik’s corporate strategy. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative prowess and integrated technology platforms.

Evonik is active in over 100 countries around the world. In fiscal 2014 more than 33,000 employees generated sales of around €12.9 billion and an operating profit (adjusted EBITDA) of about €1.9 billion. For more information about Evonik Industries visit www.evonik.com 

About Avendus Capital

Avendus Capital Pvt. Ltd is a leading financial services firm, which alongwith its associates, provides customised solutions in the areas of financial advisory, equity capital markets, alternative asset management and wealth management. The firm relies on its extensive track record, in-depth domain understanding and knowledge of the economic and regulatory environment, to offer research based solutions to its clients that include institutional investors, corporations and high net worth individuals/families. In recent years, Avendus Capital Pvt. Ltd. has consistently been ranked among the leading corporate finance advisors in India and has emerged as the advisor of choice for cross-border M&A deals, having closed around 40 cross-border transactions in the past 5 years. Avendus PE Investment Advisors Pvt. Ltd. manages funds raised from its investors by investing in public markets, while Avendus Wealth Management Pvt. Ltd. caters to investment advisory and portfolio management needs of Family offices and Ultra High Networth Individuals / families, spanning all asset classes. Headquartered in Mumbai, the firm has offices in New Delhi and Bangalore.

Avendus Capital, Inc (US) and Avendus Capital (UK) Pvt. Ltd. located in New York and London respectively are wholly owned subsidiaries of Avendus Capital Pvt. Ltd offering M&A and Private Equity syndication services in the respective regions. Avendus Capital, Inc (US) also provides wealth management services in select jurisdictions in USA. For more information, please visit www.avendus.com 

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