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News Apr 29, 2019

Prefere Resins’ Financing of the Acquisition of INEOS’ Melamines & Paraform Business

Shearman & Sterling advised Prefere Resins Holding GmbH, a portfolio company of Silverfleet Capital, on the financing of the acquisition of INEOS’ melamines & paraform business.

Prefere Resins is one of the market-leading European manufacturers of phenolic and specialty amino resins. The acquired melamines & paraform business covers operation sites in the U.S., Germany and a tolling operation in Indonesia, and contributes to a significant increase of the group’s global operations. The financial terms of the deal are confidential and the acquisition remains subject to clearance from the relevant competition authorities.

Silverfleet Capital is an independent European holding company investing in mid-market companies and has been a longstanding client of Shearman & Sterling. The Shearman & Sterling team led by Winfried M. Carli previously advised Silverfleet Capital, inter alia, on the financing of the acquisition of Prefere Resins, 7days, Pumpenfabrik Wangen, Praxis Herning and CCC.

INEOS Paraform is Europe’s second-largest producer of paraformaldehyde and employs about 120 people at its facility in Mainz, Germany. The business has been producing formaldehyde and its downstream derivatives for more than 100 years and continues to innovate and develop its business. INEOS Melamines is a world leader in the supply of melamine resins into coatings, paper, textile, tire, rubber and decorative laminates industries. The business employs around 150 people at its sites in Springfield, Massachussets and Frankfurt, Germany.

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