Cleary Gottlieb represents Latour Capital in its acquisition of Solvay’s barium and strontium, and sodium percarbonate businesses conducted by certain Solvay’s German, Spanish, and Mexican subsidiaries and divisions.
Solvay’s barium & strontium and sodium percarbonate businesses have a strong position in their respective markets and will benefit from Latour’s investments and management’s experience to accelerate their growth.
Latour Capital was founded in 2011 by Cédric Bannel, founder of Caradisiac.com, Philippe Leoni, CEO of Spir Group for 13 years, and Alain Madelin, former Minister of Economy and Finance in France. It primarily invests in the French and Europe buyouts market with a focus on primary and off-market transactions, and is investing through the Latour Capital III fund.
Solvay is a global listed company specialized in the manufacturing of various chemicals and plastics and employing over 24,000 people worldwide.
The closing of the acquisition, which remains subject to antitrust clearances, is expected to take place in the first half of 2021.