Clayens agrees on two transformative North American acquisitions
These transactions enable Clayens to reach significant scale in North America and expand its portfolio of technical processes
GENAS (France) – 11 avril 2023
One Equity Partners ("OEP"), a midmarket private equity fund, announces today that its portfolio company Groupe Clayens ("Clayens"), a major player in advanced polymer, composite and precision metal parts processing, has entered into an agreement to acquire American precision plastic parts manufacturer Parkway Products LLC ("Parkway"), and has also taken over the activities and plastic injection plant at the Crystal Lake site (Illinois, United States) from a major healthcare group. Closing of the Parkway acquisition is subject to satisfaction of customary conditions.
Founded in 1946 and headquartered in Greenville (South Carolina), Parkway Products manufactures custom precision plastic parts (thermoplastics, thermosets, machining, high-performance polymers and magnesium injection (thixomolding)) developed for major groups. With eight plants in the United States and one in Mexico, Parkway is present in many sectors such as precision industry, electrical infrastructure, agriculture, aerospace and defense, transportation and healthcare.
The Crystal Lake production site includes a 45,000 square meter plant equipped in particular with cleanrooms. This site mainly manufactures plastic parts for major healthcare groups such as medical waste containers and syringes, and has strong growth potential.
American private equity fund One Equity Partners acquired a majority stake in the Clayens group in the second half of 2022 from a group of French investment funds led by Siparex, which reinvested on a minority basis alongside OEP. One Equity Partners, Siparex and the other minority funds have all agreed to participate in a planned capital increase to finance these acquisitions.
"These transactions are the result of the various strategic growth opportunities we identified when we acquired Clayens in November 2022" said Konstantin Ryzhkov, Managing Director at One Equity Partners. "The acquisitions of Parkway and Crystal Lake give Clayens strategic critical mass in North America, and also diversify the group's customer portfolio and technical expertise" said Cedric Aymard, Senior Advisor for France at One Equity Partners.
"The acquisition of Parkway will generate significant synergies through the complementarity of the two companies' customer bases and technical expertise in high-performance polymers, composites and precision metals" said Eric Pisani, Chief Executive Officer of Clayens. "The purchase of the Crystal Lake production site in the United States strongly increases Clayens' presence in the medical sector. With more than EUR 600M in revenue and 31 plants in Europe, North America and North Africa, Clayens is particularly well positioned to serve major customers on three continents and become one of the world leaders in precision plastic parts manufacturing."
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A propos de One Equity Partners
One Equity Partners ("OEP") is a midmarket investment fund active in North America and Europe targeting the industrial, healthcare and technology sectors. OEP's strategy is to invest in companies to help them become international leaders through transformative acquisitions financed by OEP. Through this differentiated approach and an experienced international team, OEP has demonstrated since 2001 a strong ability to be a trusted partner for management teams and to create long-term value for its partners. Founded in 2001 and formerly owned by JPMorgan, OEP has been independent since 2015 and has offices in New York, Chicago, Frankfurt and Amsterdam. OEP has completed more than 300 transactions worldwide. For more information: www.oneequity.com.
A propos de Clayens
Based in Genas (France), the Clayens group is a European leader in polymer, composite and precision metal parts processing. Clayens works with customers worldwide to provide the custom products and services they need across a wide range of industries: aerospace, automotive, healthcare, electronics, construction, home products and equipment, sports and leisure. The Group has plants in France, Germany, Eastern Europe, North Africa and Mexico, and has supported its customers abroad to serve their needs in these different geographies. Clayens' expertise rests on four main technologies: thermoplastic and thermoset processing, cutting and overmolding of metal parts and electronics. Its R&D teams develop innovative technologies, often working with its customers and partners on product or manufacturing process innovations. Learn more at www.clayens-np.com.
A propos de Parkway Products
Parkway Products LLC, founded in 1946, is a leading player in five niche technical processes in the plastics processing sector and ranked in Plastic News' Top 100 injection molding companies in 2020. With more than 750 employees and 9 plants in the United States and Mexico, Parkway is an ideal partner for groups that need a supplier of high-performance precision plastic parts based on advanced materials. Learn more at www.parkwayproducts.com.
A propos de Siparex
An independent French private equity specialist, the Siparex Group has EUR 3.3 billion in assets under management. With strong organic growth and significant acquisitions, Siparex is a group serving business development and transformation. From start-up to mid-market company, it finances and supports major entrepreneurial ventures through its business lines: Venture Capital (XAnge), Energy Transition (TiLT), Entrepreneurs, Redeployment, Mezzanine, Midcap and ETI.
The Group benefits from a strong local presence, with 6 offices in France (Paris, Lyon, Nantes, Lille, Strasbourg and Toulouse), 4 locations in Europe (Milan, Munich, Berlin and Brussels) and partnerships in Africa and North America.
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Thomas Zadvydas
Stanton
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