January 3rd, 2022

The Heubach Group and SK Capital Partners announced the completion of the acquisition of Clariant's Global Colorants Business. The combined business will operate under the Heubach brand.

The newly combined Heubach Group is a provider of comprehensive colour solutions, supplying a broad portfolio of organic, inorganic, and anti-corrosive pigments, pigment preparations, dyes, colourants and specialty materials. Heubach Group operates its business from 19 manufacturing facilities across Europe, the Americas, Asia and Africa, employing approximately 3,000 people. The headquarters of the Heubach Group will be established in Vienna, Austria.

Johann Heubach of the Heubach Group, stated "The new Heubach is a world-class organization with great talent, technology and assets. For us, product excellence and sustainability are core. We are well-positioned to create significant value for our customers and business partners across the many industries we serve."

Aaron Davenport, a Managing Director of SK Capital, noted, "The combination of Heubach and Clariant Pigments creates an industry leader committed to the highest standards in manufacturing, quality and service. We look forward to supporting management in the growth and improvement of the Heubach Group by investing in talent, innovation and market expansion."

The Heubach Group announced the appointment of Stefan Doboczky as Chief Executive Officer of the Heubach Group, effective January 10, 2022. Mr. Doboczky joins the Heubach Group, having most recently served as CEO of Lenzing AG. Mr. Doboczky was a member of the Managing Board of Royal DSM, the Dutch Life Science and Material Science Group. He spent almost two decades in various general management roles. Mr. Doboczky holds a Ph.D. in Natural Science from the Technical University of Vienna (A) and an MBA from IMD in Lausanne (CH). Stefan Doboczky noted, "I am very excited to join the new Heubach Group. I am convinced that by combining these successful businesses, we will create a powerful offering for our customers in the pigment and colourant space."

The Valence Group of Piper Sandler & Co., BofA Securities and Citigroup served as financial advisors to Heubach and SK Capital. Committed financing for the transaction was provided by BofA Securities, Citigroup, HSBC, KeyBanc, Citizens, ING and MUFG. Lenz & Staehelin AG and Kirkland & Ellis LLP acted as legal counsel to Heubach and SK Capital. Milbank LLP acted as legal counsel to Heubach. Homburger AG acted as legal counsel to Clariant, and Deutsche Bank AG served as Clariant's financial advisor.
The new Heubach Group brings together two colour innovators, Heubach and Clariant's Global Colorants Business, creating a market for diversified organic and inorganic pigments and preparations, focusing on new applications technologies and sustainability.

This merger combines the strengths of two of the colour companies. The Heubach family began manufacturing decorative glassware in the 14th century and 500 years later, in 1806, opened its first pigment factory. Clariant was formed in 1995 as a spin-off from the chemical company Sandoz AG. Its pigment production dates back to the Pigments businesses of the former Hoechst AG. For more than 150 years, both companies have been known for their experience in chemistry, innovation, pigments and attention to customer service.