Fredericks Michael & Co. acted as exclusive financial advisor to Surteco Group SE (XTRA:SUR), a global leader in coated surface materials, on its acquisition of Laminates & Performance Films and Coated Fabrics Businesses of Synthomer plc (LSE:SYNT), a global specialty chemicals company.
The acquired businesses specialize in the production and sale of laminates, films, and vinyl-coated fabrics with locations in the United States and Thailand and revenues of USD 254 million in 2021. The purchase price was USD 255 million.
“This acquisition will strengthen our position in the market for decorative surfaces in North America and it represents an important step for sustainable development of the Surteco Group,” says Wolfgang Moyses, Surteco’s CEO and Chairman of the Management Board.
Together with the acquired business, Surteco’s revenues in North America are expected to exceed USD 300 million and total worldwide turnover will exceed EUR 1 billion.
FM&Co. advised Surteco on a multi-step engagement process which included valuation, transaction structuring, management of commercial, financial and legal due diligence, and recommending negotiating strategies and tactics through closing of the transaction.
About Surteco Group
Surteco is a Germany-based developer, designer, producer and marketer of surface materials based on paper and plastics. Surteco operates through three segments: Decoratives, Profiles and Technicals. Decoratives produce decor papers, finish foils and edge bandings. Profiles manufactures floor strips and skirtings, wall edging systems and technical extrusion (profiles). Technicals manufacture impregnated products, plastic based finish foils as well as edge bandings and finish foils with specific requirements. Surteco is listed on the Prime Standard of the Frankfurt and Munich Stock Exchanges and has sales of EUR 757 million. Surteco employs over 3,000 people. For more information, visit www.surteco.com.
For more information on the transaction, reach out to George Caraberis via caraberis@fm-co.com.