Page 140 - CW E-Magazine (26-11-2024)

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STRATEGIC MOVE

Consortium of MAVCO Investments and Avenue

Capital Group to acquire hubergroup

hubergroup, a global leader in milestone in hubergroup’s journey signifi cant areas for expansion.
specialty chemicals and print solu- toward becoming an internationally The backing from the consortium
tions, has announced the signing of leading, fully integrated, packaging- will allow hubergroup to meet this
a sale and purchase agreement with a focused print solutions provider with demand and unlock new market
consortium between MAVCO Invest- an expanding chemicals business,” potential,” the hubergroup statement
ments, a private investment vehicle hubergroup said in a statement. added.
belonging to select members of the
Murugappa family, and funds man- “We are excited to announce our The deal follows a competitive
aged by US-based. partnership with hubergroup, an or- bidding process that included Edel-
ganisation with a rich heritage span- weiss and Jindal Poly Films, both of
Avenue Capital Group. The con- ning multiple centuries. This collabo- which reportedly sought to acquire
sortium will acquire all shares in the ration marks our strategic entry into hubergroup with fi nancial backing.
company from the current owner, the global print/packaging solu- hubergroup India is the market leader
Cornelius Treuhand Holding. The tions and allied products. Together in the Indian printing industry with
completion of the transaction is with Avenue Capital Group, we are market share of around 30%, with
subject to the required regulatory committed to accelerating huber- major print media publication houses
approvals. group’s growth in key international along with packaging and FMCG
markets and enhancing its ability to companies as its clients. This com-
The acquisition, reportedly at an deliver exceptional value to all its pany was originally promoted by the
enterprise value of $310-mn, will see business partners worldwide,” said Bilakhia Group in 1991.
the consortium take full ownership of Mr. M.A.M. Arunachalam, Director,
hubergroup from Cornelius Treuhand MAVCO Investments. The company manufactures key
Holding, pending regulatory approval. ink components like adhesives,
The transaction is said to include “This investment also allows resins, and pigments at its Vapi,
$160-mn to refi nance hubergroup’s hubergroup to capitalise on high- Daman and Silvassa plants. It supplies
debt and a $150-mn equity infusion growth opportunities across geo- nearly half its products to India and
besides working capital. graphies. The regions where demand the rest globally through subsidiaries
for high-quality chemicals and print/ in countries like the US, Australia and
“This partnership marks a signifi cant packing solutions is growing, represent Thailand.

Ohmium announces collaboration to set up

CO -to-green methanol project
2
Ohmium International, a US-based Bengaluru. The project will combine
green hydrogen company that designs, green hydrogen generated by Ohmium
manufactures, and deploys advanced PEM electrolysers with CO captured
2
Proton Exchange Membrane (PEM) from the Singareni Thermal Power
electrolysers, has announced a partner- Plant to produce green methanol.
ship to set a CO -to-green methanol
2
plant. The process to synthesise green
methanol from CO emissions was
2
The partners include New Delhi- a company formed in 2016 at the developed by researchers at Breathe
based EPC fi rm Spirare Energy and Jawaharal Nehru Centre for Advanced Applied Sciences and the JNCASR in
Breathe Applied Sciences Pvt. Ltd., Scientifi c Research (JNCASR) in India. Spirare Energy partnered with

140 Chemical Weekly November 26, 2024

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