Kingswood Capital Management, a private equity firm with experience in corporate carve-outs, and Corbion, a global ingredient solutions provider, have successfully completed the sale of Corbion’s emulsifiers business. The transaction included two US-based manufacturing plants and around 175 employees.
Kingswood acquired the business for a cash purchase price of $362M, with expected net cash proceeds of approximately $275M after taxes and transaction costs. The partnership between the two companies will ensure a smooth transition and continued high-quality service for customers through supply and service agreements that are in place.
Kingswood’s Managing Partner, Alex Wolf, expressed excitement about taking the emulsifiers business forward and building on its strong heritage to provide exceptional service. He also mentioned that this partnership will create the largest standalone pure-play emulsifiers business in North America.
Corbion’s CEO, Olivier Rigaud, expressed confidence in Kingswood’s ability to steward the emulsifier business and provide strong support as the new owners. He thanked the hardworking colleagues who developed the emulsifier business over the years and wished them success in the future. Lazard is serving as financial advisor to Corbion while Kirkland & Ellis and Configure Partners are serving as legal counsel and debt advisor to Kingswood for this transaction.
