Ackermans & van Haaren: reaches an agreement on the sale of Manuchar

ACKERMANS & VAN HAAREN REACH MANUCHAR SALE AGREEMENT

JANUARY 14, 2022, 07:30 AM

Regulated information within the meaning of

Royal decree of 14 November 2007.

Antwerp, January 14, 2022

Ackermans & van Haaren reaches agreement on the sale of Manuchar

AvH Growth Capital, the Maas family and the management of Manuchar have signed an agreement with a subsidiary of Lone Star Funds (“Lone Star”) for the sale of 100% of the share capital of Manuchar. The transaction is expected to close in the second quarter of 2022, subject to antitrust approvals.

Manuchar is a leading chemical distributor in emerging markets, headquartered in Antwerp. It complements its chemical product distribution activities with international trading services for steel, polymers and other raw materials. The group handles over 5 million metric tons of cargo annually, generating approximately $2.5 billion in annual sales with local operations in over 35 countries and 125 locations.

AvH Growth Capital became a shareholder of Manuchar in 2007 and holds a 30% stake alongside the Maas family and management. The partnership between AvH, the Maas family and management has enabled Manuchar to accelerate its expansion across geographies and end markets through targeted investments in organizational capabilities, local teams and distribution assets. This has resulted in further diversification of the company’s product offering beyond its market leading positions in the home care sector into agriculture, food and animal feed, personal care and other end markets and continuing to build a leading integrated distribution platform across geographies. .

After 15 years of successful development under the current management, Manuchar shareholders have decided that the group is ready for the

next phase in its growth story. The promising partnership between the management team and Lone Star will mark another step in the development of Manuchar’s leading chemical distribution platform in emerging markets.

Lone Star, founded by John Grayken, is a leading private equity firm investing globally in stocks, real estate, credit and other financial assets. Since inception of its first fund in 1995, Lone Star has organized 22 private equity funds with cumulative capital commitments totaling more than $85 billion.

Upon closing of the transaction, AvH will be entitled to cash proceeds of approximately €140 million and will realize an estimated capital gain of approximately €75 million. The final amounts depend on the effective closing date (expected in the second quarter of 2022).

John-Eric Bertrand, member of the executive committee of Ackermans & van Haaren: “We are proud to have contributed to Manuchar’s impressive track record over the past 15 years. Manuchar has grown from a logistics and commercial services group to a major integrated distributor of chemical products. across geographies with a diversified product offering. We are confident that its talented management team and its 2,250 employees around the world will, together with Lone Star, strengthen the group’s reputation as one of the most reliable chemical distributors for emerging markets.

Ackermans and van Haaren positions itself as the long-term partner of choice for family businesses and management teams to help build successful market leaders and contribute to a more sustainable world.

Ackermans & van Haaren is a diversified group operating in 4 key sectors: Marine Engineering & Contracting (DEME, one of the largest dredging companies in the world – CFE, a construction group headquartered in Belgium), Private Banking ( Delen Private Bank, one of the largest independent private wealth managers in Belgium, and wealth manager JM Finn in the UK – Banque Van Breda, niche bank for entrepreneurs and liberal professions in Belgium), Real Estate & Senior Care ( Nextensa, listed integrated real estate group) and Energy & Resources (SIPEF, agro-industrial group in tropical agriculture).

From an economic point of view, the AvH group represented in 2020 a turnover of

5.0 billion euros and employed 22,331 people thanks to its share in the participations. AvH is listed on Euronext Brussels and is part of the BEL20 index and the European DJ Stoxx 600 index.

Website

All press releases published by AvH and its main group companies as well as the ‘Investor Presentation’ can also be consulted on the AvH website: www.avh.be. Anyone interested in receiving press releases by e-mail should register on this site.

Contact

For more information

Jan Suykens

please contact:

CEO – Chairman of the Executive Committee

e-mail: [email protected]

Phone. +32.3.897.92.36

Financial Calendar

February 28, 2022

2021 annual results

Tom Bamelis

Jean-Eric Bertrand

CFO – Member of the executive committee

Member of the executive committee

Phone. +32.3.897.92.42

Phone. +32.3.897.92.22

Ackermans & van Haaren NV – Begijnenvest 113 – 2000 Antwerp – Tel. +32 3 231 87 70 – [email protected] – www.avh.be

Warning

Ackermans & van Haaren AG published this content on January 14, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on January 14, 2022 06:41:03 UTC.

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