LONDON, February 1, 2011 /PRNewswire/ --
The Valence Group announces that it has successfully advised Tessenderlo Group (NYSE Euronext: TESB) on its sale of Tessenderlo Fine Chemicals (TFC, Ltd) to Tennants Consolidated Ltd., a leading UK privately held chemical manufacturing and distribution group.
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Frank Coenen, Tessenderlo Group CEO, said, "This transaction represents a step forward in our strategy of reshaping the group's activities. The group will continue its focus on specialty products and services, especially sustainable products made from by-products of other industries." Mr. Coenen went on to say, "The advice we received from the Valence Group was particularly important as we considered this sale. Their expertise in chemical industry mergers and acquisitions proved to be extremely valuable."
Ariel Levin, Partner, said: "We are very excited to be working with the Tessenderlo Group and proud to have played a role in this transaction. Our successful relationship is further evidence that The Valence Group remains the premier advisor to the global chemicals industry."
About the Tessenderlo Group
Tessenderlo Group is an international chemicals company with over 100 locations worldwide. More than 8,000 people work for the group. The group is a world and European leader in most of its product areas with a consolidated revenue totaling 2.1 billion EUR in 2009. Tessenderlo Chemie NV is listed on Eurolist by Euronext Brussels and is part of Next 150 and BelMid indices.
About The Valence Group
The Valence Group is a specialist M&A boutique offering advisory services exclusively to companies and investors in the chemicals, materials and related sectors. The firm has developed broad and deep transactional expertise: sell-side, buy-side, joint venture, private companies, public offers, corporate carve-outs, LBOs and management buy-outs. The founders and senior members of The Valence Group have worked together for between 10 and 15 years and collectively have more than 130 years of transactional experience gained both at major investment banks and within chemical companies. The firm's offices are located in London, New York and Shanghai.
SOURCE The Valence Group