The Dutch tar distiller Cindu Chemicals BV was sold by her shareholders Corus Staal, NPM Capital and Sofinim to the listed US company Koppers Holding Inc.
Lindenaar & Co acted as financial advisor to the board of Cindu Chemicals and her shareholders in co-ordination of the due diligence process, financial analyses, negotiations concerning the share purchase agreement and general transaction co-ordination.
Profile Cindu Chemicals
Cindu Chemicals is a specialist in distillation of coal tar. The company supplies high-quality products for industrial usage. The coal tar is supplied for an important part by Corus Staal. Cindu Chemicals’ products are, amongst others, pitch (application in the aluminum and steel industries), naphthalene (raw material for colorants and supplements to concrete), creosote oil (raw material for wood preservation) and carbon black feedstock (raw material for the graphite industry). The company has a production facility in Uithoorn, the Netherlands, and storage tanks in the Amsterdam harbor. In 2008 Cindu Chemicals generated revenues of approximately €50 million and employs approximately 75 employees.
Profile Koppers
Koppers is a global integrated producer of carbon compounds and treated wood products. Koppers Holdings Inc. (Turnover 2009 $1.1 billion) is NYSE listed, and has production facilities in the US, UK, Denmark, Australia and China and company headquarters in Pittsburgh, Pennsylvania.