Corporate / M&A

Capital Markets

MCH Group

On October 11, 2022, MCH Group AG, a leading international live marketing company, announced the result of its at-market rights offering. MCH Group will raise gross proceeds totaling CHF 76.9 m.
MCH Group&#8217;s anchor shareholders, Lupa Systems and the Canton of Basel-Stadt, have backstopped the rights offering in the aggregate amount of CHF 68 m. Upon completion of the capital increase, their shareholdings will increase to 38.52% and 37.52%, respectively.
Homburger acts as counsel to MCH Group in this transaction. The Homburger team is led by partners Daniel Daeniker and Daniel Häusermann (both Corporate / M&amp;A, Capital Markets), and includes partner Stefan Oesterhelt (Tax), lead associate Stefan Blunschi, associates Anna Peter and Jasmin Künzle (all Corporate / M&amp;A, Capital Markets), associate Raphaël Fellay (Tax), as well as junior associates Thomas Leu and Michele Fazari (both Corporate / M&amp;A, Capital Markets).

Homburger advises MCH Group AG on its rights offering 

IP / IT

Competition

Clariant

On January 3, 2022, Clariant announced that it has completed the sale of its Pigments business to a consortium of Heubach Group and SK Capital Partners and reinvested approx. CHF 115 m of the purchase price to become a 20% shareholder alongside Heubach Group and SK Capital Partners in the ultimate holding company of the combined Clariant-Heubach Pigments Group. The combined business will be a global pigments player with approximately 3,000 employees generating approx. EUR 1 bn in annual sales.
The enterprise value of the sold Clariant Pigments business amounts to approximately CHF 805 to 855 m on a cash and debt free basis (depending on an earn-out payment of CHF 50 m contingent on the 2021 financial performance of the Clariant Pigments business). Clariant&#8217;s net cash inflow after the rollover and initial debt adjustments, but before the closing account adjustments, taxes, transaction costs and the potential earn-out payment, amounts to approximately CHF 615 m.
Homburger acted as global lead counsel to Clariant. The Homburger team was led by partners Frank Gerhard and Daniel Hasler and comprised lead associate Stefan Blunschi, associates Carlo Sulser and Jasmin Künzle, junior associates Lars Göldi and Luca Ellenberger (all Corporate / M&amp;A), partners Marcel Dietrich, Richard Stäuber, counsel Andreas Burger, associates Allegra Arnold, Jonas Krull and Katharina Bratvogel, and Junior Associate Matthias Müller (all Competition), partner Reto Heuberger and associates Arbnor Sheholli and Philippe Weber (all Tax) as well as partners Gregor Bühler and Luca Dal Molin, and associate Philippe Baumann (all IP / IT).

Homburger advised Clariant in the completion of the sale of its Pigments business to a consortium of Heubach Group and SK Capital Partners and its reinvestment in the combined Clariant-Heubach Pigments Group

Financing and Investment Products

On June 14, 2021, Clariant announced that it has reached an agreement for the divestment of its Pigments business to a consortium of Heubach Group and SK Capital Partners. At the time of closing of the transaction, Clariant will reinvest to become a 20% shareholder alongside Heubach Group and SK Capital Partners in the ultimate holding company (holding the combined Clariant-Heubach Pigments business) at an enterprise value of CHF 805 m to CHF 855 m on a cash and debt free basis, depending on an earn-out payment of CHF 50 m contingent on the 2021 financial performance of Clariant’s Pigments business. The combined business will be a global pigments player with approximately 3,000 employees generating more than EUR 900 m in annual sales and strong service and production capabilities across the globe.
The transaction is expected to close in the first half of 2022, subject to receipt of applicable regulatory approvals and the satisfaction of other closing conditions. Once completed, Clariant will have finalized its intended divestments as part of its portfolio upgrade, having previously divested its Healthcare Packaging and Masterbatches businesses. The Pigments divestment concludes Clariant’s transformation into a high value specialty chemical company with above-market growth, higher profitability, and stronger cash generation.
Homburger acts as global lead counsel to Clariant. The Homburger team is led by partners Frank Gerhard and Daniel Hasler and comprises lead associate Stefan Blunschi, associates Carlo Sulser, Marc Schamaun, Nicola Togni, junior associates Lars Göldi, Rafael Winter, Severin Egloff, Luzius Kaufmann and Urs Stürmer (all Corporate / M&amp;A), partners Marcel Dietrich, Richard Stäuber, counsel Andreas Burger, associates Allegra Arnold, Jonas Krull and Katharina Bratvogel (all Competition), partner Reto Heuberger, associates Marc Vogelsang and Arbnor Sheholli (all Tax), partner Gregor Bühler and associates Philippe Baumann and Daniel Lütolf (all IP / IT) as well as partner Jürg Frick (Financing and Investment Products).

Stefan
Blunschi

Homburger advises MCH Group AG on its rights offering

Homburger advised Clariant in the completion of the sale of its Pigments business to a consortium of Heubach Group and SK Capital Partners and its reinvestment in the combined Clariant-Heubach Pigments Group

Homburger advises Clariant on the divestment of its Pigments business to a consortium of Heubach Group and SK Capital Partners

Corporate M&A 2022: Switzerland

Corporate M&A 2021: Switzerland

Join the Team

Stefan Blunschi

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StefanBlunschi

Homburger advises MCH Group AG on its rights offering

Homburger advised Clariant in the completion of the sale of its Pigments business to a consortium of Heubach Group and SK Capital Partners and its reinvestment in the combined Clariant-Heubach Pigments Group

Homburger advises Clariant on the divestment of its Pigments business to a consortium of Heubach Group and SK Capital Partners

Corporate M&A 2022: Switzerland

Corporate M&A 2021: Switzerland

Join the Team

Stefan Blunschi

Career

Languages

Bar Registration

Teams

Stefan
Blunschi