Total sells Atotech to Carlyle Group for $3.2 billion

French energy giant Total has sold Atotech BV, a part of its specialty chemicals business division and a global manufacturer of high technology plating solutions, to the Carlyle Group for $3.2 billion. The transaction forms part of the $10 billion divestment program over 2015-2017 announced by the Total Group.

Carlyle is a global alternative asset manager that is well positioned in Asia, Europe and the United States through its significant range of investments, and is one of the most experienced private equity investors in the global chemicals industry. 

“Atotech, which is very active in Asia, is the worldwide leader in its high tech segment, with a business model focused on innovation and customer relationships. Carlyle will enable Atotech to pursue its growth ambitions and serve its customers while respecting its commitments towards its employees and stakeholders. This transaction is part of Total’s portfolio management strategy, which aims to align the Group’s asset base with its business ambition,” commented Patrick Pouyanne, chairman & CEO of Total.

Part of Total since 1993, Atotech BV is a global leader in metal and surface finishing technologies, with two business segments: electronics (printed circuit boards, semiconductors) and general metal finishing (for end-markets such as automobile, construction, furniture, etc). Active in more than 40 countries, Atotech has over 4,000 employees worldwide, mainly in China and in Germany, with 18 production sites (6 in Europe, 8 in Asia, 4 in America) and 18 technical centres (5 in Europe, 8 in Asia, 5 in America). In 2015, Atotech recorded sales were Euro 1 billion.

Gregor Boehm, managing director and co-head of Carlyle Europe Partners, said, “With its intense customer focus and state-of-the-art R&D capabilities, Atotech is poised for continued growth and innovation. We look forward to partnering with the company’s management team and employees to fully realize Atotech’s potential.”