MBCF supports Andlinger with Clesse Industries deal

08 January 2015 Consultancy.uk

Aalberts Industries has recently sold off its Clesse Industries business unit to Andlinger & Company. Mazars Berenschot Corporate Finance, a corporate finance specialist based in the Netherlands, served as the financial advisor to the international private equity house.

With a global revenue of over €2 billion, Aalberts Industries is a global specialist in industrial products, systems and processes, operating with three distinct business lines: Building Installations, Climate Control, Industrial Controls and Industrial Services. In line with its strategy to focus its activities on its core business, the Dutch-based multinational decided to divest two of its smaller activities, Clesse Industries and Broen LAB systems. The latter is based only in Denmark, while the prior has operations in France, United Kingdom, Brazil and Italy. Both activities have a combined annual revenue of approximately €45 million, a fraction of its global turnover.

Buyer Andlinger & Company is private equity firm founded in 1972 in the US, and since its inception it has grown its footprint to four offices globally (Florida, New York, Vienna and Brussels). Its investment portfolio currently comprises of nine companies in a variety of industrial sectors. Following Aalberts Industries’ move to put Clesse Industries up for sale, which sparked the interest from Andlinger & Company, the Brussels office of the PE-firm hired Mazars Berenschot Corporate Finance (MBCF) as the corporate finance advisor to run the due diligence and transaction process. Upon the completion of successful discussions and negotiations a deal was ratified, and the deal was formally closed late December 2014.

Andlinger with Clesse Industries deal

From its offices in France, UK, Italy and Brasil, Clesse Industries designs, manufactures and supplies worldwide, products for LP Gas (Butane-Propane), Natural Gas, Biogas and Synthetic Natural Gas installations. The firm’s product range is focused on gas regulators, valves, fittings and safety accessories, to be installed on networks, tanks, cylinders and pipes. Clesse Industries was founded over 60 years ago and employs more than 150 employees.