Ambienta sgr, through Ambienta II Fund, acquired a majority stake in Croatian group Calucem from Argus Capital Partners II (download here the press release). Calucem was born as a spin-off from Heidelberg Cement in 2006 by Calucem’s ceo Gilles Bonaert and it is now the second world leader in development, production and distribution of Calcium Aluminate Cements, a family of high-value and high-performance specialty binders used for their high strength, rapid hardening and heat resistance. CAC based materials are at the base of the success of large, global and fast growing end markets such as building chemistry, refractories and several specialties such as, for example, specialty pipes.
This is the third buyout round for Calucem as Argus Capitalhad acquired the company in 2010 from Mid Europa fund, which in turn had financed the spin off from Heidelberg in 2006.
Headquartered in Pula (Croatia) and with about 50 million euros in revenues, Calucem sells in more than 60 countries, with the US and Germany being the largest. As a global player, Calucem operates through an R&D and commercial centre in Mannheim (D), operations in Pula (HR), sales and marketing offices in the US and Singapore, a bauxite quarry in Izmir (TR) with distribution centres in the US, UK and Sweden.
The deal has been arranged by Stefano Bacci, Francesco Lodrini and Andrea Venturini for Ambienta sgr. The private equity firm has been supported in the deal by Grimaldi, Dechert, Porobija & Porobija and King & Wood Mallesons law firms, by Zagrebačka banka (UniCredit group) as financial advisor. Unicredit Group also provided the debt financing in support of the acquisition, acting as sole MLA & Bookrunner and Agent, through its affiliates UniCredit Bank Austria, Zagrebačka banka and UniCredit Bank AG.
