No sign on Monday of any let up in the flow of private equity deals. CVC Capital Partners unveiled the €1.5bn acquisition of Dutch chemicals distribution specialist Univar, sending shares in the Rotterdam-based company up by more than a third.
Univar’s biggest shareholder, Dutch investment company HAL Holdings, has accepted the offer, while Parcom Ventures, the private equity arm of Dutch bank ING, will be a co-investor in Univar alongside CVC.
Univar employs almost 7,000 staff, operating a network of 160 distribution centres across North American and Europe. Sales were $5.5bn last year, producing operating income of $239m. The company, which can trace its roots to an American chemicals brokerage set up in 1924, was demerged from Holland’s Royal Vopak five years ago.