CVC Capital Partners Fund VI agrees to acquire Alpha Corporation, holding company of AOC, llc
2 May 2018NEW YORK – May 2, 2018 – CVC Capital Partners ("CVC") today announced that CVC Fund VI has signed a definitive agreement to acquire The Alpha Corporation of Collierville, Tennessee. The transaction includes AOC, LLC, the primary asset and wholly owned subsidiary of The Alpha Corporation. The transaction is subject to customary regulatory approvals.
AOC, LLC, is a leading global producer of formulation chemistries for composites and cast polymer applications. Headquartered in Collierville, Tennessee, AOC manufactures polyester and vinyl ester formulations, gel coats, colorant dispersions and specialty additives for customers manufacturing products used in the automotive, marine, corrosion, construction and infrastructure segments, among others. The Company has production facilities in the U.S., Canada, Mexico, Europe and Asia.
On completion of the transaction, CVC plans to work closely with AOC (a manufacturer of quality formulations headquartered in Schaffhausen, Switzerland and a CVC portfolio company and joint venture with Royal DSM) to create a global leader in the industry. AOC’ products are sold to various composites end users in the automotive, building and construction, marine and relining/CIPP sectors.
Steven Buyse, Partner at CVC, said: “AOC is an outstanding business and together with AOC, this will create a robust group of companies with a diverse product mix and wide geographic reach to serve our customers globally. We look forward to working with both AOC and AOC and continue to develop high performance composite formulations.”
Fred Norman, CEO of AOC, said: “We are excited about entering into the next chapter of AOC’s growth with the support of CVC Capital Partners and AOC. AOC and AOC are highly complementary businesses and the combination of R&D processes, broad portfolios and operational know-how will lead to significant added value for our customers and for their end users.”
Bert Bakker, CEO of AOC, said: “AOC’s business culture is very compatible with that of AOC, as they share our commitment to innovation, continuous improvement and customer focus. This is a winning combination for the industry.”
About AOC
AOC is a leading global company active in the sales of quality formulations for composite applications. Together with its customers, AOC is pushing the limits of both composite part manufacturing and performance. Taking an integral approach to new product development, AOC is using its full expertise in formulation chemistry, material science, and component manufacturing for shaping new applications in composites. The company’s headquarters are based in Schaffhausen, Switzerland, and production is located in The Netherlands, France, Italy and China. AOC is a joint venture of CVC Fund VI and Royal DSM.
About AOC
AOC is a leading global supplier of formulation chemistries for polyester and vinyl ester formulations, gel coats, colorants, specialty additives and synergistic material systems used in the manufacture of composites parts. Its comprehensive product offering is supported by a global manufacturing and logistics network, which provides customers worldwide with efficient service, customized solutions and complete supply chain management with a focus on customer satisfaction and fulfilment. Headquartered in Collierville, Tennessee, AOC’s products are manufactured at six facilities strategically located in North America and by additional manufacturing locations in Europe and Asia.
About CVC Capital Partners
CVC Capital Partners is a leading private equity and investment advisory firm. Founded in 1981, CVC today has a network of 23 offices and approximately 400 employees throughout Europe, Asia and the U.S. To date, CVC has secured commitments of over $107 billion from some of the world's leading institutional investors across its private equity and credit strategies. In total, CVC currently manages over $65 billion of assets. Today, funds managed or advised by CVC are invested in 50 companies worldwide, employing c. 310,000 people in numerous countries. Together, these companies have combined annual sales of over $70 billion. For further information about CVC please visit: www.cvc.com.
ENDS
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CVC Capital Partners
Carsten Huwendiek
Head of Communications
Tel: +44 20 7420 4240
Email: chuwendiek@cvc.com
