Public to Private – Petroferm & Banner Chemicals
Petroferm, based in Florida, is a privately held speciality chemicals company. IDJ was retained by Petroferm to identify a suitable business for acquisition, to provide an enlarged presence in Europe and new products for production or distribution by its core operations in the United States.
Banner Chemicals PLC, listed on the London Stock Exchange, focussed on the formulation and distribution of solvents and performance chemicals for some of the world’s largest manufacturers, as well as the manufacture of flame retardants and smoke suppressants. It was of modest size, with limited ability to raise additional capital or grow by acquisition. IDJ initiated the approach to the Banner Board, negotiated with the Board committee to obtain an agreed, recommended offer and arranged the due diligence. IDJ also assisted in obtaining the debt facilities, produced the offer documentation and made the offer, on behalf of Petroferm.
Our principal deliverables were:
– Market research & acquisition evaluation
– Valuation & negotiation
– Debt advisory
– Due diligence
– Document production and validation