News

Affiliate Of Sun European Partners, LLP completes the sale of Elix Polymers

Sun European Partners, LLP (“Sun European Partners”) today announces that one of its affiliates has completed the sale of its investment in ELIX Polymers (“ELIX” or “the Company”), a leading manufacturer of ABS (Acrylonitrile-Butadiene-Styrene) resins and derivatives in Europe, to Sinochem International (Overseas) Pte. Ltd. for an enterprise value of €195 million.

ELIX was acquired by an affiliate of Sun European Partners in 2012. Since its acquisition, Sun has overseen the transformation of the Company from operating as a production-focussed unit of a large chemicals conglomerate into a European standalone market leader with a best-in-class product and service offering. Operational initiatives at ELIX, including the introduction of lean manufacturing and commercial excellence, led to a considerable jump in productivity, record levels of customer satisfaction and strong sales increase, resulting in EBITDA quadrupling during Sun’s ownership.

Lionel de Posson, Managing Director at Sun European Partners, said: “We are pleased to have completed our sale of ELIX. The progress made by the Company during our ownership allowed for a successful exit and we continue to actively seek further investments in Spain.”

Sun European Partners was advised by Alantra, Latham & Watkins, KPMG and AT Kearney.

 

Contact:

Fergus Wheeler / Alex Le May

FTI Consulting

+44 20 3727 1522 / 1308

suneuropean.sc@fticonsulting.com