EQT is pleased to announce that EQT Private Equity portfolio company Schülke & Mayr GmbH (“schülke” or “the Company”), has entered into a definitive agreement with ISP Marl Holdings GmbH and Ashland Industries Europe GmbH (collectively, “Ashland”), subsidiaries of Ashland Global Holdings Inc., a US-based specialty materials company, under which Ashland will acquire the Personal Care Business from schülke in an all-cash transaction for EUR 262.5 million.
Founded in 1889 in Hamburg, schülke’s mission is to protect lives worldwide by providing critical hygiene solutions that effectively combat risks for humans and materials from infection and contamination. Today, schülke offers a diversified product portfolio, including disinfection products for hand, skin and surface as well as wound antisepsis products. The Company was acquired by EQT Private Equity, through the EQT VIII fund, in July 2020.
schülke’s Personal Care Business is a leading developer and supplier of preservatives and multifunctional skin care additives for the global cosmetics industry and was one of the Company’s four business units. The business is headquartered in Norderstedt, Germany and has approximately 90 employees in 12 countries that serve customers in around 65 countries globally.
Arne Roettger, Director of the Personal Care Business, commented: “I think I speak for all employees of the Personal Care Business when saying we are very delighted by this transaction. We are excited to enter the next phase of our journey as part of a leading global specialty chemicals business which will allow us to further grow and better serve our global customers. We look forward to joining Ashland, and I want to thank schülke and EQT for the support and opportunities they have given to the Personal Care Business up until today.”
The divestment is an important milestone in EQT Private Equity’s strategic repositioning of schülke to become a pureplay healthcare company and expanding its leading position in infection prevention. Following the transaction, the Company will have a strong platform and be well-positioned to accelerate growth in its core healthcare business, which has proven critical to combat infections during the last 130 years. In particular, schülke has been and is contributing immensely to the fight against the ongoing COVID-19 pandemic by providing its customers and the society at large with the best possible support and supply of urgently needed disinfectants.
Matthias Wittkowski, Partner and Investment Advisor to EQT Private Equity, commented: "We are excited to have found a good long-term home for the Personal Care Business, its employees and customers. I am confident that the Personal Care Business will flourish and continue to grow as part of Ashland, which has longstanding knowledge and expertise in the personal care field. At the same time, it marks a very important moment for schülke, as it completes the strategic repositioning and enables the Company to fully focus on the healthcare industry. We are fully committed to providing the necessary resources and capital to support schülke in its continued growth and to fulfil its mission to protect lives worldwide.”
Christian Last, Chief Executive Officer, schülke, concluded: "schülke is a pioneer and leader in the field of infection prevention and hygiene solutions for over 130 years. 2020 was an extremely important year for schülke as a critical company in the immense fight against the pandemic. It clearly demonstrated one thing: Our strength lies in serving our customers in the healthcare business segments. Our mission to protect lives worldwide will now become true in everything we do.”
EQT Private Equity was advised by Rothschild & Co, Freshfields Bruckhaus Deringer LLP and Deloitte.
Matthias Wittkowski, Partner and Investment Advisor to EQT Private Equity, +49 89 2554 9942
EQT Press Office, firstname.lastname@example.org, +46 8 506 55 334
EQT is a purpose-driven global investment organizationwith more than EUR 75 billion in raised capital and currently more than EUR 46 billion in assets under management across 16 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
About Schülke & Mayr GmbH
The company is a leader in the field of infection prevention and hygiene solutions for more than 130 years. Schülke & Mayr GmbH develops, produces and distributes antiseptics for wound care, disinfectants and medical and cosmetic skin care products and preservatives. The company offers its customers innovative products, solutions and services in the professional healthcare business, over the counter (OTC) and hygiene solutions for the pharma sector. schülke’s mission is to protect lives worldwide and thereby actively contributes to patient safety. Today schülke is represented by 20 subsidiaries and sells its products in more than 100 countries. The company is headquartered in Germany, employs more than 1,300 people worldwide and operates production sites in Germany (schülke), France (Bioxal) and Brazil (Vic Pharma).
More info: www.schuelke.com
Ashland Global Holdings Inc. (NYSE: ASH) is a premier global specialty materials company serving customers in a wide range of consumer and industrial markets, including adhesives, architectural coatings, automotive, construction, energy, food and beverage, nutraceuticals, personal care and pharmaceutical. At Ashland, we are approximately 4,200 passionate, tenacious solvers – from renowned scientists and research chemists to talented engineers and plant operators – who thrive on developing practical, innovative and elegant solutions to complex problems for customers in more than 100 countries.
More info: www.ashland.com