Novacap is a diversified group involved in producing and selling mineral and organic chemical products, with a turnover of €470m in 2010. The company has nearly 470 employees across its industrial units. It markets the products to different industry sectors.
Established in 2003, Novacap was created when Bain Capital completed a carve-out from Rhodia of some of its intermediate chemicals and industrial mining activities.
Under Bain Capital’s ownership, Novacap increased the sales. Since 2009, Novacap accelerated the diversification in high value-added areas and has invested €30m in new operating units to support the growth projects.
AXA Private Equity director Thibault Basquin said the intention is to assist the company in developing new applications and implementing an active build-up strategy within complementary activities, notably relying on management’s expertise to carve-out businesses from industrial corporates.
BNP Paribas, HSBC and Societe Generale Corporate & Investment Banking acted as Mandated Lead Arrangers and Bookrunners to arrange and underwrite senior credit facilities for the acquisition.
The acquisition is subject to approval by the European antitrust authorities as well as other required governmental authorizations.
