Corbion and private equity firm Kingswood Capital Management, LP have successfully completed the sale of Corbion’s emulsifiers business. The transaction includes two US-based manufacturing plants and around 175 employees, with Kingswood acquiring the emulsifier business from Corbion for a cash purchase price of $362M. After accounting for taxes and transaction costs, the expected net cash proceeds are approximately $275M.
Kingswood is excited about the acquisition, looking forward to building on the emulsifiers business’ reputation and creating the largest standalone pure-play emulsifiers business in North America by leveraging its heritage. Managing Partner at Kingswood, Alex Wolf, expressed confidence in the future of the emulsifiers business under their ownership and plans to provide strong support while upholding its exceptional service standards.
CEO of Corbion, Olivier Rigaud, thanked his colleagues for their hard work in developing the emulsifiers business and wished them success in their future endeavors. Lazard provided financial advisory services to Corbion during this transaction, while Stinson LLP served as legal counsel. For Kingswood, Kirkland & Ellis offered legal counsel, and Configure Partners acted as the debt advisor.
The strategic partnership between Corbion and Kingswood aims to ensure a seamless transition and continued success for the emulsifiers business.
