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One Equity Partners acquires majority in Sud Chemie AG

OEP buys 9.37% share from Messerschmitt Foundation and now holds more than 50% of Süd-Chemie shares

Continuity in support of existing growth strategy

Christoph Giulini (OEP): “By strengthening our involvement with Süd-Chemie we are tying into our very successful cooperation to date.”

One Equity Partners ("OEP") has bought an additional 9.37% share in Munich-based Süd-Chemie AG from the Messerschmidt Foundation. OEP has additionally acquired around 2% of Süd-Chemie AG’s shares on the off-exchange market and has thus raised its stake in the company from 39% to over 50%. The acquisition of the shares is subject to approval by EU cartel authorities. It has been agreed to keep the purchase price confidential.

“By strengthening our involvement we are tying into our very successful cooperation with the management and other shareholders. Nothing of this will change in future,” says Christoph Giulini, Partner at OEP and member of the supervisory board of Süd-Chemie AG. In July 2005 OEP made a takeover bid and acquired a 39% stake with the declared aim of acquiring a majority in the company. Since then, as a major shareholder, OEP has supportively supervised the management’s growth plans. Nothing about the current strategy will change following the acquisition of the majority stake. “Since OEP’s participation in 2005 we, as an independent specialty chemical company, have come a big step closer to our target: sustainable organic growth accompanied by much improved profitability,” says Dr. Günter von Au, CEO of Süd-Chemie AG.

There is no intention of acquiring the company completely mid-term, or of de-listing it. “Süd-Chemie’s listing on the stock exchange is valuable for us as such; not least because it enables us long-term to sell our shares in an orderly manner through the stock market,” says Christoph Giulini.

The weighting of the Süd-Chemie share within the Messerschmitt Foundation portfolio grew steadily in the past two years. The Foundation sold their share in Sud Chemie to further diversify their portfolio. “In this context it was important for us to secure the further independence of the company through an agreement with OEP,” says Hans-Heinrich von Srbik, Chairman of the Messerschmitt Foundation and member of the supervisory board of Süd-Chemie AG. In the long term, the agreement provides for the sale of the OEP shares through the stock market. In addition, the Messerschmitt Foundation will maintain control of 2% of Sud Chemie's shares.