An Orrick team in Paris is advising Dérivés Résiniques et Terpéniques (DRT), its family shareholders and Tikehau Capital in the proposed sale of DRT to French private equity firm Ardian SA for approximately €1 billion.
DRT is a French company that specializes in the development of industry applications derived from pine wood and other natural resources. These products are included in applications such as adhesives, construction, coatings and beverages as well as in tires and rubber for the automotive industry.
DRT has enjoyed rapid development in recent years with strong support from Tikehau Capital. This proposed transaction will be a further step in the company’s growth, as many of the individual shareholders and Tikehau Capital will reinvest a portion of their proceeds alongside Ardian.
The transaction remains subject to customary approvals by the antitrust authorities and the signing of a definitive agreement.
Earlier this year, Orrick advised DRT in its $150 million acquisition of U.S.-based Pinova, Inc. from fragrance producer Symrise AG.
The Orrick team advising DRT in this transaction is led by partners Saam Golshani and Guillaume Kessler and included associates Julien Bensaid, Anna Leitchenko and Diane de Catuelan (M&A and Private Equity), partner Anne-Sophie Kerfant
and associate Margaux Azoulay
(tax), partner Emmanuel Ringeval
(Finance), partner Emmanuel Bénard
and associate Chek-Lhy Luu
(Employment), and of counsel Marie-Laure Combet