Blackstone Invests in De Nora
London and Milan --
Blackstone (NYSE: BX) announces that funds managed by Blackstone Tactical Opportunities, have agreed to make a substantial investment in De Nora, the leading global designer, manufacturer and supplier of electrode and water technology. Closing is expected in a few months.
Headquartered in Milan, and established by the De Nora family in 1923, the company has evolved into a global leader in electrochemical processes and technologies. With manufacturing plants located across the US, South America, Europe and Asia, DeNora has an international footprint serving a diversified and growing customer base.
Recognised as a leader in innovation and breakthrough inventions, De Nora operates two principal divisions:
- Electrode Technologies, which involves the manufacture of proprietary, patented electrodes and cells used in a wide range of major industrial electrochemical applications including chlorine production, electronics, swimming pools and mining; and
- Water Technologies, which provides innovative and sustainable disinfection and filtration technologies as well as complete water treatment solutions and after-sales support services for the water and waste water needs of the energy, marine, municipal and industrial markets.
Andrea Valeri, Senior Managing Director of Blackstone Tactical Opportunities, said:
'Blackstone is excited to partner with the De Nora family and the existing management team to accelerate the Company's growth prospects. Providing capital to a company with a longstanding family history and management continuity is a hallmark of Blackstone's investments in Italy and beyond, and we look forward to working with De Nora to build on its continued success.'
Federico De Nora, Chairman, De Nora, said:
'We are thrilled to be partnering with Blackstone, whose scale and international reach will enable us to achieve significant growth as we enter this new phase of development. Blackstone's long-term, strategic support will be invaluable as we continue to provide a world class service in all the markets in which we operate.'
Paolo Dellachà, Chief Executive Officer, De Nora, commented:
'We are confident that this partnership will act as a springboard for expansion into new markets. De Nora's planned launch of new innovative technologies will greatly benefit from Blackstone's established global network. The Executive Management Team welcomes Blackstone's investment as validation of our business strategy and we are both optimistic and enthusiastic as we embark on this next step in our journey.'
De Nora was advised on the transaction by Lazard. Blackstone was advised by Mediobanca and Deutsche Bank.