Clariant announced the completion of the sale of its Healthcare Packaging business to a newly formed investment of Arsenal Capital Partners. The signing was announced in July. The sale was closed on October 31, 2019. The total consideration of the sale amounts to approximately CHF 308 million which is equivalent to 13.2 times adjusted FY 2018 EBITDA.
The company will be rebranded as Airnov Healthcare Packaging (“Airnov”) and will be led by Matthias Brommer. He has headed Clariant’s Healthcare Packaging business since 2015. The Airnov serves several growing industry sectors, including healthcare, diagnostics, and nutraceuticals.
According to Clariant, the divestment of the Healthcare Packaging business is the first step of the company’s strategy to become a more focused and innovative specialty chemical company.
- Arsenal Capital Partners, New York, USA
- Clariant AG, Muttenz, Switzerland