Disposal of Carix to Pemco
Momentum advised the management shareholders and 3i Group on the sale of Carix Holdings Ltd to Pemco, a Norwegian specialist chemical business.
Client's view
I am delighted with the excellent result Momentum has achieved for us. It was a pleasure to work with advisers who understand entrepreneurs and who ran an international sale process to a successful conclusion. The combination of ‘Big 4’ experience and excellent personal service was impressive.Geoff Davy, Managing Director
Overview
Momentum advised the management shareholders and 3i Group on the sale of Carix Holdings Ltd to Pemco, a Norwegian specialist chemical business.
Carix was originally a Management buy-out from Shell. It supplies and distributes specialty car chemicals to petrol retailers throughout Central, North and Eastern Europe. The business has joint headquarters in West London and Germany.
The shareholders appointed Momentum to conduct an international auction of the business. A number of international strategic acquirers were identified by Momentum who had a strong interest in acquiring the business. The short listed acquirers came from the UK, mainland Europe and North America.
Key features
- The international nature of the activities of Carix meant the business was likely to be of interest to acquirers from a number of countries.
- The Momentum team’s extensive experience of running cross-border sale processes was key to delivering the best possible outcome for the shareholders.
- Momentum maintained a high degree of competitive tension throughout the process enabling the transaction to be completed within 6 weeks of the receipt of first round bids.
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