Blackstone announces that funds managed by Blackstone Tactical Opportunities, have agreed to make a substantial investment in De Nora, the leading global designer, manufacturer and supplier of electrode and water technology. Closing is expected in a few months.
Headquartered in Milan, and established by the De Nora family in 1923, the company has evolved into a global leader in electrochemical processes and technologies. With manufacturing plants located across the US, South America, Europe and Asia, De Nora has an international footprint serving a diversified and growing customer base.
Recognised as a leader in innovation and breakthrough inventions, De Nora operates two principal divisions:
- Electrode Technologies, which involves the manufacture of proprietary, patented electrodes and cells used in a wide range of major industrial electrochemical applications including chlorine production, electronics, swimming pools and mining; and
- Water Technologies, which provides innovative and sustainable disinfection and filtration technologies as well as complete water treatment solutions and after-sales support services for the water and waste water needs of the energy, marine, municipal and industrial markets.
Andrea Valeri, Senior Managing Director of Blackstone Tactical Opportunities, said:
“Blackstone is excited to partner with the De Nora family and the existing management team to accelerate the Company’s growth prospects. Providing capital to a company with a longstanding family history and management continuity is a hallmark of Blackstone’s investments in Italy and beyond, and we look forward to working with De Nora to build on its continued success.”
Federico De Nora, Chairman, De Nora, said:
“We are thrilled to be partnering with Blackstone, whose scale and international reach will enable us to achieve significant growth as we enter this new phase of development. Blackstone’s long-term, strategic support will be invaluable as we continue to provide a world class service in all the markets in which we operate.”
Paolo Dellachà, Chief Executive Officer, De Nora, commented:
“We are confident that this partnership will act as a springboard for expansion into new markets. De Nora’s planned launch of new innovative technologies will greatly benefit from Blackstone’s established global network. The Executive Management Team welcomes Blackstone’s investment as validation of our business strategy and we are both optimistic and enthusiastic as we embark on this next step in our journey.”
De Nora was advised on the transaction by Lazard. Blackstone was advised by Mediobanca and Deutsche Bank.
About De Nora
With 2016 turnover of €431 million, De Nora is an Italian multinational leader in sustainable technologies, that offers energy saving products and water treatment solutions. Globally. De Nora is the largest provider of insoluble electrodes for electrochemical processes (Chlorine & Caustic, Electronics & Surface Finishing, Pools Electro-chlorination, Cathodic protection, Energy storage & fuel cells) and is among the leaders in technologies and processes for filtration and disinfection of water (drinking water, industrial and municipal water treatment, ballast water & marine wastewater).
The Company has grown internally through continuous innovation and externally with major acquisitions in USA, Japan, England and Italy. It is present in 12 countries worldwide with 23 offices, 12 manufacturing facilities and R&D centers in Italy, USA and Japan. The Group currently owns 355 patent families with more than 2,700 territorial extensions. Further information is available at www.denora.com.
About Blackstone Tactical Opportunities
Blackstone’s Tactical Opportunities business employs an opportunistic investment strategy across asset classes, industries and geographies. The strategy seeks to capitalise on time-sensitive or non-traditional investment opportunities that are differentiated and difficult to source, analyse or execute.
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $360 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis.
Source : Company