Evonik Wants to Acquire Monarch Catalyst in India
Evonik Industries AG, Essen (Germany) intends to strengthen its global catalysts business. On March 11, 2015, Evonik has signed an agreement with Monarch Catalyst Pvt. Ltd., Dombivli (India) to acquire 100% of the company’s shares. The transaction is expected to close during the first half year of 2015 after the required approvals have been received. The parties have agreed to keep the purchase price confidential.
Evonik with its Business Line Catalysts is a global leader in producing specialty catalysts, custom catalysts and catalysts components for the Life Sciences & Fine Chemicals, Industrial & Petrochemical and Polyolefines market segments. This bolt-on acquisition in India with annual sales in the low double-digit million € range complements Evonik’s leading positions in activated base metal catalysts and precious metal catalysts. Monarch’s global oils & fats hydrogenation catalysts business is a broadening of the Evonik catalysts portfolio. Monarch Catalyst has about 300 employees.
Evonik, the creative industrial group from Germany, is one of the world leaders in specialty chemicals. Profitable growth and a sustained increase in the value of the company form the heart of Evonik’s corporate strategy. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative prowess and integrated technology platforms.
Evonik is active in over 100 countries around the world. In fiscal 2014 more than 33,000 employees generated sales of around €12.9 billion and an operating profit (adjusted EBITDA) of about €1.9 billion. For more information about Evonik Industries visit www.evonik.com.
Monarch is a family owned enterprise founded in 1973 by Dr K Muthukumar and Shantibhai Vadalia with its production site in Dombivli / India, near Mumbai. It is recognized as a global catalyst supplier and respected for its consciousness and efficient use of resources. For more information about Monarch visit www.monarchcatalyst.com.
Avendus Capital Pvt. Ltd. was the sole financial advisor to Monarch Catalyst for the transaction.
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.