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Japanese industrial group Tanaka Kikinzoku Kogyo K.K. to acquire Swiss company Metalor Technologies International SA from Astorg

12 July 2016

Astorg today announces that it has signed an agreement to sell 100% of the shares of Metalor Technologies International SA (“Metalor”) to the Japanese Tanaka Kikinzoku Kogyo K.K. (“Tanaka”). The transaction remains subject to approval from antitrust authorities, but is expected to close before the end of the year if approved. 

Founded in 1852 and headquartered in Neuchâtel (Switzerland), Metalor is a diversified industrial group in the precious metals sector, present in 17 countries and operating 12 production facilities worldwide. The company refines precious metals from mining and recycling origin (“Refining” division), produces chemicals and precious metal compounds for plating applications for the electronic and jewellery industries (“Advanced Coatings”) and manufactures silver contacts for the electrical equipment industry (“Electrotechnics”). It employs approximately 1,500 people across the globe.

Philippe Royer, CEO, Metalor, said: “The Tanaka group is definitely the best possible shareholder for Metalor. Both companies enjoy a very strong reputation which is a key factor in the precious metals business. In addition, our businesses are complementary in both geography and markets. Thanks to the previous shareholders, Metalor has been able to invest extensively in Europe as well as in Asia and in the Americas. The Tanaka group will bring a new level of shareholder stability and technological mastery. The entire Metalor team supports this transaction and we hope it will close as soon as possible.”

Joël Lacourte, Managing Partner of Astorg, commented: "Since 2009, we have supported and financed a major step in Metalor development, with the construction of 3 new facilities in China, Singapore, and Mexico, and the acquisition of 2 businesses in North America and Asia. We are very proud to have participated to this chapter of the life of this over 160 year old Swiss company, and thank all Metalor employees and managers for the performance achieved. No doubt that Metalor, backed by its new shareholder, will have a successful future." Benjamin Dierickx, Associate Director in Astorg added: “ Tanaka is really a strategic home for Metalor: industrial and commercial synergies are significant and it is a unique opportunity for the company to further expand in Asia which is the first precious metal market in the world. We are particularly happy for the employees of both companies as this transaction will create for them many opportunities.”

Akira Tanae, Representative Director and CEO, Tanaka Kikinzoku Kogyo K.K., added: "Tanaka Kikinzoku Kogyo K.K. and Metalor have both developed as corporations engaged in the refinement and processing of precious metals since our respective establishments in the nineteenth century.  Based on a thorough consideration by both parties, the decision was made that Metalor and its subsidiaries would become a part of the Tanaka Precious Metals group. Tanaka Kikinzoku Kogyo K.K. and Metalor offer highly complementary aspects both in terms of business and regional strategy.  We anticipate creating significant synergies which will open new avenues for innovative global strategies for the expanded Tanaka Precious Metals group. We firmly believe that this step will greatly benefit the precious metals industry as a whole."

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Involved parties to the transaction: 

Astorg team

Joël Lacourte, Benjamin Dierickx

 

 

 

Advisors

M & A : Houlihan Lokey (Pierre Gaulier, Fei He)

Legal: Paul Hastings (Alexis Terray, Edith Boucaya)

Finance: EY (Amaury Bonnaire, Anne-Sophie Larmaraud)

Tax: EY (Lionel Benant, Benjamin Pique)

Environnement : ERM (Werner Schulte, Gudrun Schwerdtle)

 

 About Metalor

Metalor is a leading responsible player in the precious metals trade. Through its three business units (Refining, Advanced Coatings and Electrotechnics) Metalor serves customers on all continents in a variety of industry sectors, from Swiss watch manufacturers to Mexican electrical equipment suppliers. The Group’s core competencies are chemistry, metallurgy and the management and transformation of precious metals. Since its creation in 1852, Metalor’s corporate culture has been founded upon honesty and integrity at all levels of the Company. With more than 1500 employees, the Metalor Group is present in Europe, the United-States, South-America and Asia. Website: http://www.metalor.com      

 About Astorg

Astorg is an independent private equity fund management company, specializing in European mid-market buyouts, with total funds under management of over €4 billion. Astorg seeks to partner with successful and entrepreneurial management teams, to acquire businesses - very often family-owned - with attractive growth prospects, which Astorg supports through the provision of experienced governance and adequate capital. Astorg enjoys a distinct entrepreneurial culture, a long-term shareholder perspective, and a lean decision-making body enhancing its reactivity. Although a multi-sector investor, Astorg has developed solid industry expertise in healthcare, business-to-business professional services and niche industrial companies selling differentiated, often technology-driven, products. Astorg has offices in London, Paris and Luxembourg, plus Senior Advisors based in Holland, Switzerland and Germany. Visit www.astorg.com

 About Tanaka

Since the first company was stablished in Japan in 1885, the Tanaka Precious Metals group has built a diversified range of business activities focused on precious metals.  On April 1, 2010, the group was reorganized with Tanaka Holdings Co., Ltd. as the holding company of the Tanaka Precious Metals group. In addition to strengthening corporate governance, this move was aimed at improving the group’s overall service to its customers by ensuring efficient management and dynamic execution of operations.  The Tanaka Precious Metals is committed, as precious metals specialists, to providing a diverse range of precious metals products and services through cooperation among its group companies.

The Tanaka Precious Metals group is one of the most significant participants in the Japanese market in terms of the volume of precious metal handled, and for more than 130 years the group has developed and stably supplied industrial precious metals, as well as precious metals-related products and services.  As precious metal professionals, the group will continue to contribute to the enrichment of people’s lives in the future.

Website: http://www.tanaka.co.jp/english (Tanaka Precious Metals), http://pro.tanaka.co.jp/en (Industrial products)

 

 
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