Croda acquires Spain's Iberchem for €820M

According to Croda, who will pay €820 million for 100% of the shares of the Spanish company, it will finance the operation with a mixture of debt and with a placement of shares in the Stock Exchange for around 8% of its capital. The operation will be paid in full in cash.

Iberchem, founded in 1985, belonged to Eurazeo since 2017. At that time the Murcian company was acquired by the French fund from Spain's Magnum, which had 70% of the shares, and the management team, which retained the rest. At that time, Euazeo paid €400 million for Iberchem. The company currently employs 850 people, and has 14 factories, 10 shopping centers and a presence in 120 countries.

Freshfields advised Croda in this acquisition, with a cross-border team which included Madrid´s office managing partner, David Franco, partner Iñaki Gabilondo, senior associate Carla Gómez, senior associate Antonio Ramírez, associates Mario Pacini, Laura Cue, Ignacio Baena, Domènec Casañ and Cristina de la Puente.