Press Release: Clayens NP is in Exclusive Talks to Acquire PSB Industries’s Healthcare & Industry Unit
Press release
Clayens NP has entered exclusive negotiations with PSB Industries to acquire its Healthcare & Industry division
September 11, 2020,
Advised by Siparex since October 2019, Clayens NP (formerly Sintex NP) has entered exclusive negotiations with PSB Industries to acquire its Healthcare & Industry division, except for one US site and one French site. This transformational transaction would enable the Group to establish strong market positions in healthcare and expand its footprint with a major presence in Mexico.
Founded in 1930 near Lyon, Clayens NP ranks among Europe's leading specialists in advanced polymer processing, composites and precision metal parts. The Group, which masters most of the associated materials and conversion processes, has built strong positions with major account customers operating in diversified industrial sectors such as electrical, electronics, aerospace, automotive, home automation and more.
Led by Eric Pisani, Clayens NP has 2,700 employees across 17 locations in France, Germany, Hungary, Poland, Slovakia, Tunisia and Morocco, and generates the majority of its business internationally.
With five industrial sites (France, Poland and Mexico), the PSB Group's Healthcare & Industry division employs 700 people and generates revenue of approximately €60M. Equipped with modern industrial facilities, this business unit enjoys strong, longstanding market positions with healthcare sector leaders.
This strategic combination project would mark a major milestone in Clayens NP's development. It would give the Group the opportunity to expand its industrial footprint with two new plants in North America and five ISO Class 7 cleanrooms, while further diversifying its target markets through new healthcare expertise.
This transformational transaction, actively supported by Siparex teams, would enable the combined group to consolidate revenue of around €350M.
Florent Lauzet, Managing Director in charge of the Siparex ETI division, commented: "Clayens NP's highly resilient business model, notably based on its sectoral and geographic diversification, has allowed us to pursue our consolidation strategy calmly despite the economic context linked to Covid-19. Acquiring PSB's Healthcare & Industry division, which operates in highly complementary geographies and sectors, would mark a major milestone in the Clayens NP project."
About Siparex ETI
Siparex ETI supports mid-sized French companies in upper-tier balance sheet transactions and structures its investments through its Siparex ETI4 fund, which currently has 12 portfolio companies including recent investments Topsolid, Valentin Traiteur, Clayens NP, Jacky Perrenot and Batibig. Siparex covers the whole of France as well as Italy (Milan), Germany (Munich) and North America in partnership with Quebec fund Desjardins Capital. Siparex manages more than €2bn in capital across its Equity, Mezzanine and Innovation divisions (under the XAnge brand).
Press contacts:
Siparex: Priscille Clement – 01 53 93 04 27 – 06 14 80 75 22 – p.clement@siparex.com
Transaction participants - Buyer advisors:
- Legal – Mc Dermott Will & Emery: Gregoire Andrieux, Fabrice Piollet, Herschel Guez, Baptiste Tigaud
- Legal and tax due diligence – EY: Laure Tatin Gignoux, Julie Andre, Clotilde Carecchio
- Financial – Grant Thornton: Francoise Mechin, Alain-Regis Grail, Pierre Aubrun
- Strategy – Alira Health: Aude Ouensanga, Thanh-Thuy Bui