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PIPER SANDLER COMPANIES

(PIPR)
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Piper Sandler : Advises SK Capital on Sale of Niacet to Kerry

06/21/2021 | 02:21pm EDT

Piper Sandler & Co. chemicals & materials investment banking group (The Valence Group) announced today that it has advised SK Capital Partners on the sale of its portfolio company, Niacet Corporation, to Kerry Group plc for $1.015bn (€853m) on a cash-free, debt-free basis, subject to customary closing adjustments. Following the acquisition, Niacet will be integrated into Kerry’s global food protection and preservation platform.

The transaction is expected to close by the end of the third quarter of 2021, subject to customary closing conditions and regulatory approvals.

Niacet is a global market leader in technologies for preservation. It has clear leadership positions in Bakery and Pharma, and cost-effective low-sodium preservation systems for Meat and plant-based food across both conventional and clean label solutions. Niacet is differentiated by its proprietary drying and granulation process technologies in its key market categories of Bakery, Meat and Pharma. The business has customers in over 75 countries and key manufacturing sites in Niagara Falls (USA) and Tiel (Netherlands).

SK Capital is a private investment firm with a disciplined focus on the specialty materials, chemicals and pharmaceuticals sectors. SK Capital's portfolio of businesses generates revenues of approximately $11 billion annually, employs more than 16,000 people globally and operates 150 plants in 28 countries.

ABOUT PIPER SANDLER

Piper Sandler Companies (NYSE: PIPR) is a leading investment bank driven to help clients Realize the Power of Partnership®. Securities brokerage and investment banking services are offered in the U.S. through Piper Sandler & Co., member SIPC and NYSE; in the U.K. through Piper Sandler Ltd., authorized and regulated by the U.K. Financial Conduct Authority; and in Hong Kong through Piper Sandler Hong Kong Ltd., authorized and regulated by the Securities and Futures Commission. Private equity strategies and fixed income advisory services are offered through separately registered advisory affiliates.

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©2021. Since 1895. Piper Sandler Companies. 800 Nicollet Mall, Minneapolis, Minnesota 55402-7036


ę Business Wire 2021
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Financials (USD)
Sales 2021 1 488 M - -
Net income 2021 - - -
Net Debt 2021 - - -
P/E ratio 2021 14,4x
Yield 2021 1,48%
Capitalization 1 749 M 1 749 M -
Capi. / Sales 2021 1,18x
Capi. / Sales 2022 1,22x
Nbr of Employees 1 511
Free-Float 75,0%
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Number of Analysts 3
Last Close Price 121,28 $
Average target price 134,33 $
Spread / Average Target 10,8%
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Managers and Directors
Chad Richard Abraham Chairman & Chief Executive Officer
Debbra L. Schoneman President & Managing Director
Timothy L. Carter Chief Financial Officer & Managing Director
Shawn Quant COO, Chief Information Officer & Managing Director
William R. Fitzgerald Independent Director
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