Cognis announced that it has invited mergers and acquisitions specialists Lincoln International to conduct a review of the strategic options for its Pulcra Chemicals subsidiary.
On July 1, 2007, Cognis’ Process Chemicals strategic business unit became a legally separate company, trading under the name of Pulcra Chemicals. This step was taken as a result of Cognis’ decision to concentrate on the three core business areas of Care Chemicals, Nutrition & Health and Functional Products. Pulcra Chemicals supplies process chemicals to the textile and leather industries. Lincoln International is an investment bank that specializes in M&A transactions.
Pulcra Chemicals develops and markets products tailored to individual specifications at a competitive cost, backed with a full advisory and after-sales service for customers. The company operates production sites and service centers in Germany, Turkey, Italy, Spain, Mexico, Brazil, China, India, Indonesia and the U.S.
In 2006, the Process Chemicals strategic business unit recorded sales of textile and leather products worth €258 million, an increase of 4.1 percent on the previous year. This growth was primarily driven by strong demand in the Asia-Pacific region.
Cognis is owned by private equity funds ßCapital Partners, and SV Life Sciences. In 2006, Cognis recorded sales of €3.37 billion and an adjusted EBITDA (operating result) of €394 million.