Blackstone 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, De Nora 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.”
De Nora was advised on the transaction by Lazard. Blackstone was advised by Mediobanca and Deutsche Bank.
