Belgian specialty gases company Chemogas NV, headquartered in Grimbergen, packages and distributes gases across more than 70 countries. The client had previously been sold to Gilde Equity Management (GEM) in 2016 in a PwC-led management buyout.
Chemogas received an offer from New York-based Balchem Corporation. Given our long-term client relationship and great collaboration during the previous buyout, Chemogas requested our help to obtain the best possible price and conditions.
The successful sale of Chemogas enables the company to pursue its expansion objectives by deepening its global footprint. In tandem with Balchem, it strengthens its position and reputation as an international supplier of specialty gases. The management team remains on board.
Our multidisciplinary PwC Transactions team offered the client vendor assistance, partly by demonstrating Chemogas’s stability from a tax and finance perspective. To bolster the client’s position as a highly valuable acquisition, our Corporate Finance team led the discussions with Balchem management on the sales strategy.
Our Pensions team assisted further by assessing the impact of changing pension schemes, given the probable change of control and rolled out a new, cost-effective pension plan for management.
Partner, PwC Belgium
Tel: +32 0497 05 13 49