So.F.teR. Group of Forlì, Italy, is the n.1 Italian independent plastic compounder and one of the top three in Europe. Plants in Italy, Mexico, Brazil and USA, with approx. € 260 m 2015 group sales, considerably higher in 2016. Strong growth is due to competitive advantages of superior product range and quality. Specializes in engineering thermoplastics, thermoplastic elastomers, and vulcanized thermoplastics. Applications: automotive, appliances, electric & electronic, construction, footwear, personal care, sports & leisure, furniture.
Celanese Corporation (NYSE: CE) is a global technology leader in chemistry solutions and specialty materials for industrial and consumer applications. It was chosen as buyer after a global selection process. The acquisition will nearly double the number of its engineered materials product platforms and further extend its solutions capability and project pipeline. So.F.teR.’s sophisticated plants and product portfolio will boost growth, investment and synergies.
Global M&A was selected as exclusive advisor by the owners of So.F.teR. because Cross Border is the only M&A advisor in Italy with specific compounding sector expertise and BGL (Global M&A USA) has plastic industry expertise. Silverio Davoli from Cross Border and Andrew Petryk from BGL led the transaction process.
Riccardo Meucci, Global Commercial Director and one of the shareholders of So.F.teR.said:
“Due to their extensive industry expertise and global reach, Cross Border and BGL were able to rapidly contact and manage all the numerous potential buyers worldwide interested in So.F.teR., which was extremely valuable in selecting the ideal strategic partner, despite the lack of a formal auction process. The team worked seamlessly in navigating a complex transaction structure that crossed multiple continents to unlock shareholder value. We are excited to partner with Celanese, and are highly confident in the cultural fit and in our ability to create significant value through this strategic combination”.