Cognis exits Calder investment

Friday, January 18, 2013

On 18 January 2013, Cognis successfully realised its 35% equity stake in Calder Group, the pan-European lead and specialist engineering company.

This transaction was the culmination of a 7 year business transformation programme, following the acquisition of the business in March 2006 when Cognis became the Group’s largest shareholder.  At acquisition, Cognis and our investment partners effected a comprehensive financial restructuring of the Group, developing a balanced debt and equity package to provide the foundations for the future growth of the business. At the same time, a new management team was appointed and a turnaround, business transformation and growth programme commenced.

At that time the Group was principally a lead sheet manufacturer, selling roofing products to builders merchants across Europe. During the investment period the management team has transformed the business through investment in specialist manufacturing capability and acquisitions; Helander Precision Engineering in 2007, Midland Aerospace in 2008 and the lead business of Umicore in 2009. More recently in 2011 the Group invested in the start-up of Aquila Nuclear engineering.

Today the Group is a successful mission critical engineering business, repositioned as Europe’s largest manufacturer of specialist lead engineering components for use in the nuclear energy and healthcare markets and with growing sales in other growth sectors, particularly oil & gas and aerospace.

As a result of this operational and financial transformation, Calder Group featured in The Sunday Times list of 100 private equity backed companies with the fastest growing profits in both 2008 and 2009. The continued success of the business resulted in the opportunity for Cognis to achieve an attractive exit from its investment; this transaction completed in January 2013.