Acquisition of Sintex NP by Siparex

Sector(s)
Industrials
Deal type
Buy a business / Debt Advisory
Date
October 2019
Countries involved
France / India

Client

Siparex is one of France’s leading independent private equity groups

Deal

Capitalmind has advised Siparex on the acquisition of Sintex NP with the support of its management team

Parties

Lead team

  • Nicolas Balon

    Nicolas Balon

    Partner France
  • Kilian de Gourcuff

    Kilian de Gourcuff

    Partner France

What we did

Capitalmind advised Siparex throughout the buy-side process; winning the auction process set up by the Indian seller. This included analysis of the transaction environment, identification of the key success factors in winning the transaction while also securing the acquisition financing (including Capex line) in a very short time frame. The facility secured was underwritten by CACIB (Bookrunner), Palatine and BNP Paribas (co-arrangers), and by the private debt of Artemid, CACIB, BNP Paribas European SME Debt Fund.

About the deal

Sintex NP is one of Europe’s leading processors of polymers & composites, and also one of the region’s top precision metal engineering companies. Founded near Lyon in 1930, and owned by Sintex Plastics Technology Ltd (listed in Mumbai) since 2007, its expertise covers all significant materials & processes, making it a one-stop shop for customers. The group has built up a strong customer base among major corporations operating in the electricity, aeronautics, healthcare and automotive industries.

Sintex NP has enjoyed steady growth in sales, doubling to €275 million over the period 2010-18 and reaching EBITDA of more than €30 million. This has been thanks to a combination of internal growth and acquisitions: 10 were successfully completed during the same time frame. The company has 2,800 employees across 17 sites in France, Germany, Eastern Europe, Tunisia and Morocco.

This deal, executed  by the fund Siparex ETI 4, will enable Sintex NP to accelerate its expansion (mainly through acquisitions) with financial and technical support from its pool of investors. The aim is to extend its international presence, particularly in North America, and to consolidate its customer portfolio and technological expertise.

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