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Advent International sells allnex to PTTGC International (Netherlands) B.V. with Allen & Overy’s assistance

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Schaefer Helge
Dr Helge Schäfer

Partner

Hamburg

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Huizinga Michiel
Dr Michiel Huizinga

Partner

Frankfurt am Main

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Milne Gordon
Gordon Milne

Partner

London

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Wuepper Alexander
Alexander Wüpper

Counsel

Frankfurt am Main

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Przygoda Monika
Monika Przygoda

Senior Associate

London

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Harald Klett
Harald Klett

Manager PR & Communications

Frankfurt am Main

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12 July 2021

It is one of the biggest private equity deals of the year so far: an international Allen & Overy team has advised Advent International on the sale of allnex Group to Netherlands-based PTTGC International (Netherlands) B.V., a wholly owned subsidiary of Bangkok-based PTT Global Chemical Public Company Limited (“PTTGC”). The transactions value amounts to approximately €4bn. The transaction is expected to close in Q4 2021.

allnex is the leading global producer of industrial coating resins, offering a broad range of coating polymers and additives. With about €2bn in revenue and around 4,000 employees worldwide, allnex has leading positions in all key industrial coating segments, including a.o. industrial metal, automotive, and packaging. allnex manages a global production network of 33 state-of-the-art manufacturing sites and 23 research and technology facilities to support customers across the world.

The international Allen & Overy team was led by partner Dr Helge Schäfer (Hamburg), together with partners Dr Michiel Huizinga (Frankfurt) and Gordon Milne (London), as well as counsel Alexander Wüpper (Frankfurt) and senior associate Monika Przygoda (London, all Corporate/M&A/Private Equity).

The entire team comprised well over 100 lawyers across multiple practice groups in 18 Allen & Overy offices worldwide.

An international Allen & Overy team led by Helge Schäfer had already advised Advent and allnex on the acquisition of Nuplex in 2016.

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