International Chemical Investors Group (ICIG) and Casella GmbH have reached an agreement in principle under which ICIG would acquire all of the shares of Allessa GmbH. Both parties have agreed not to disclose the purchase price.
Allessa GmbH is a manufacturer of fine chemicals intermediates and specialty chemicals, headquartered in Frankfurt with production sites in Frankfurt’s vicinity Fechenheim, Griesheim and Höchst. Allessa GmbH is one of the largest manufacturing companies in the state of Hessen with more than 890 employees and its internal training center for more than 70 apprentices employed by Allessa GmbH.
The WeylChem Group, ICIG’s non-GMP fine chemicals platform, operates its plants in Griesheim and Höchst as well, which also used to belong to the former Hoechst AG conglomerate, and any future cooperation between Allessa GmbH and the WeylChem Group, under one ownership, would result in additional synergies.
“It should grow together what belongs together” says Casella GmbH Managing Director and Supervisory Board Chairman of Allessa GmbH Karl-Gerhard Seifert. “With the dissolution of the Hoechst conglomerate in the Rhein-Main region around Frankfurt, many of the synergies between the different sites have been destroyed and it is time now to enable them again.”
“With combined sales in excess of €500 million the WeylChem /Allessa Group would belong to the largest and most competitive fine chemicals and custom manufacturing operations worldwide,” says ICIG Managing Director Achim Riemann.
“We welcome Allessa’s employees and we are excited that, with this transaction, ICIG’s combined sales would exceed €1 billion for the first time in 2014,” says ICIG Managing Director Patrick Schnitzer.
The transaction is still subject to anti-trust approval by the respective authorities.
Read the full press release here.