Piper Sandler Advises EverArc on its Acquisition of Perimeter Solutions

Rhea-AI Summary

EverArc Holdings has announced its acquisition of 100% of Perimeter Solutions from SK Capital for approximately $2 billion, comprising cash and preferred shares. This transaction is expected to close in Q4 2021 and is subject to customary closing conditions. Perimeter Solutions specializes in high-quality firefighting products and lubricant additives, contributing significant market presence in both sectors. The acquisition aims to enhance EverArc's portfolio in these essential industries.

Positive

• Acquisition of Perimeter Solutions expands EverArc's product portfolio in firefighting and lubricant additives.
• The deal is valued at approximately $2 billion, indicating strong investment confidence.
• Closing expected in Q4 2021, suggesting swift integration into EverArc's operations.

Negative

• None.

Piper Sandler & Co. chemicals & materials investment banking group (The Valence Group) has advised EverArc Holdings on its announced acquisition of 100% of Perimeter Solutions from SK Capital.

EverArc Holdings Limited (LSE: EVRA / EVWA) has entered into a definitive agreement with SK Invictus Holdings S.à.r.l. an affiliate of funds advised by SK Capital Partners, to acquire 100% of SK Invictus Intermediate S.à.r.l., the ultimate parent company of Perimeter Solutions, a leading global manufacturer of high-quality firefighting products and lubricant additives, for total consideration of approximately $2 billion, consisting of cash and preferred shares, subject to customary closing conditions. The transaction is expected to close in Q4 2021.

EverArc Holdings Limited (LSE: EVRA / EVWA) is a publicly-listed acquisition company that was formed in November 2019 to undertake an acquisition of a target company or business.

Perimeter is a leading global manufacturer of high-quality firefighting products and lubricant additives. The Fire Safety business includes formulation and manufacturing of fire management products along with services and pre-treatment solutions for managing wildland, military, industrial and municipal fires. The Oil Additives business produces high quality phosphorous pentasulfide ("P2S5") utilized in the preparation of zinc dialkyldithiophosphate ("ZDDP")-based lubricant additives, providing critical anti-wear solutions for end customers.

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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FAQ

What is the purpose of EverArc's acquisition of Perimeter Solutions?

The acquisition aims to enhance EverArc's portfolio in firefighting and lubricant additives.

What is the total value of the acquisition involving PIPR?

The acquisition is valued at approximately $2 billion, consisting of cash and preferred shares.

When is the acquisition of Perimeter Solutions expected to close?

The transaction is expected to close in Q4 2021, pending customary closing conditions.

Who advised EverArc on this acquisition?

The Valence Group, part of Piper Sandler, advised EverArc Holdings on the acquisition.

What products does Perimeter Solutions manufacture?

Perimeter Solutions is a leading manufacturer of firefighting products and lubricant additives.