HgCapital buys and sells

HgCapital has agreed to purchase Mondo Minerals from Omya, the international white minerals group, in a move to continue Mondo’s expansion. It has also sold a majority stake in Germany’s Schenck Process in a secondary buyout to Industri Kapital.

Mondo was created in 1998 through a merger of Norwegian, Finnish and Dutch talc mining companies, and in 2006 had revenues of about €130m.

Talc is a high quality base chemical with multiple applications in key industries and Mondo says it has secured reserves of raw materials for the next 40 years.

Mondo’s customers are active in a variety of European industries, including paper, paint, plastics, and ceramics. The group has operations in Finland and the Netherlands and supplies clients in more than 50 countries.

“Together with the present management team and staff, our intention is to support further growth and expansion of Mondo’s activities and to continue to develop products and services to meet the needs of existing and future customers,” said HgCapital partner Martin Block. The deal is expected to close at the end of October.