AXA acquires Canadian business

AXA Private Equity has acquired the ‘Active Ingredients and Specialty Chemicals’ division of Quebec-based Atrium Innovations Inc through a US$155m leveraged buyout.

KBC has been appointed Global Arranger and Agent for the entire senior debt of the transaction while European Capital is arranging the mezzanine finance.

The acquired division develops and produces innovative active ingredients, in addition to distributing active ingredients and special chemicals on behalf of third parties. In 2007, it posted revenues of US$222m of which 55% came from Europe (via Unipex, Chimiray, Siricie Iris and IEB) and 45% from North America (largely Canada via Multichem). The’ division has 155 employees and locations in Paris, Quebec and Toronto. Following the deal, its head quarters will remain in Quebec.