NEW YORK and DES PLAINES, Ill., April 3, 2024 /PRNewswire/ — BC Partners Credit, the credit arm of BC Partners, a leading alternative asset management firm, and Riddell, Inc., the industry leader in football helmet technology and sports protection innovation, today announced a strategic partnership that will further advance Riddell’s central role in the game of football into the future.

Founded in 1929 and based in Des Plaines, Ill., Riddell is an iconic brand serving the football equipment market and sports community for nearly a century. Riddell is the premier designer and manufacturer of football helmets, protective sports equipment, head impact sensing and reporting technologies, and related apparel and accessories. The Company also serves as the exclusive licensee of the NFL for collectible helmets and maintains promotional rights with the League as an authorized supplier of helmets worn by more than 77% of NFL players. Riddell is deeply involved in football with key touchpoints at the grassroots level as representatives are strategically based in local communities to address customer needs and provide support.

Riddell’s historically strong growth and financial performance have only improved in recent years, driven by the Company’s robust head protection and technologies roadmap, increased market share, and positive football participation trends. BC Partners’ $400mm investment in Riddell, which includes convertible preferred equity and debt, will empower Riddell to accelerate innovation and make compelling investments in the business for the benefit of all stakeholders. BC Partners will join Riddell’s Board, working closely with Riddell’s management team and committed investors, including majority investor Fenway Partners, who have been pivotal to Riddell’s longstanding success. Riddell will refinance certain existing debt and provide a dividend to current investors as part of the transaction.

“From its market leadership, attractive financial profile, and differentiated portfolio, Riddell has demonstrated it is built for sustained success,” said Ted Goldthorpe, Head of BC Partners Credit. Mr. Goldthorpe continued, “We are pleased to have structured an investment that is customized for Riddell, as the Company embarks on an exciting growth trajectory, with increased investments in research and product development, strategic partnerships, and a best-in-class distribution platform. Dan and the entire Riddell team are exceptional, and we are excited to partner with them.”

Dan Arment, President, and Chief Executive Officer of Riddell, said, “Riddell proudly welcomes BC Partners as advisors and investors in our business. We clearly maintain a shared vision for maximizing Riddell’s role in the rapidly evolving products and services landscape within football and sports. This alignment will ultimately strengthen Riddell’s service to our customers, drive increased financial performance, and deliver value for our investors, including BC Partners and Fenway Partners.”

Said Fenway Partners Co-Founder and Managing Partner, Peter Lamm, “We welcome BC Partners to the Riddell team and look forward to working with them to drive continued innovation and growth. With the best management team in the industry, Riddell is well positioned to deliver outstanding performance for athletes and value for all of its investors.”

Three Ocean Partners served as the sole financial advisor to BC Partners Credit on both the preferred and debt financing, and King & Spalding LLP acted as legal advisor.

UBS Investment Bank and Baird served as financial advisors to Riddell, and Lowenstein Sandler LLP acted as the legal advisor to the Company in connection with the transaction.

About Riddell

Riddell was founded with a goal of giving back to the football community while advancing and improving athlete protection. As the long-standing leader in football head protection and protective athletic equipment for 95 years, Riddell is leading the game to a strong future by creating a path to next generation protection. Riddell also offers best-in-class reconditioning services to help ensure athletes have access to clean, sanitized, and recertified equipment. Off the field, Riddell’s licensed collectibles business is regarded as the cornerstone of football collectibles for fans and collectors of college and the NFL. For more information, visit www.Riddell.com or follow @RiddellSports on Instagram, Twitter, Facebook, and YouTube.

About BC Partners & BC Partners Credit

BC Partners is a leading investment firm with over €40 billion in assets under management across private equity, private debt, and real estate strategies. BC Partners Credit was launched in February 2017, with a focus on identifying attractive credit opportunities in any market environment, often in complex market segments. The platform leverages the broader firm’s deep industry and operating resources to provide flexible financing solutions to middle-market companies across Business Services, Industrials, Healthcare and other select sectors. To date, BC Partners Credit has completed more than 400 transactions. For further information, visit www.bcpartners.com/credit-strategy.

Austin, TX – February 27, 2024 – Atlas Energy Solutions Inc. (NYSE: AESI) (“Atlas” or the “Company”) today announced that it has entered into a definitive agreement with Hi Crush Inc. (“Hi-Crush”) to acquire all of Hi-Crush’s Permian Basin proppant production assets and North American logistics operations in a transaction valued at $450 million (1).

 

The transaction consideration includes $150 million in up-front cash, $175 million in shares of common stock of AESI and $125 million in deferred cash payments in the form of a Seller’s Note. Both the up-front cash consideration and the principal amount of the Seller’s Note are subject to revision for customary post- closing adjustments.

 

Acquisition Highlights

• Combination brings together two of the leading innovators in the Permian proppant space, and two of the largest holders of premium giant open dune sand reserves and resources in the Permian
• Pro forma production capacity expected to be ~28 million tons, with ~80% of pro forma 2024 production capacity contracted, accelerating free cash flow generation and shareholder returns
• Adds ~12 mmtpy of production capacity (~5 million tons in Kermit, TX, proximal to Atlas’s existing Kermit facilities and ~7 million tons from OnCore’s distributed mining network) (2)
• We expect the acquired assets to contribute $110-125 million in Adjusted EBITDA in 2024, which implies on a full run-rate basis, a valuation of approximately 3x 2024 Adjusted EBITDA.
• Broadens Atlas’s logistics offering through the addition of Pronghorn, a leading multi-basin provider of proppant logistics and wellsite services
• Estimated to be immediately double-digit accretive to CFPS and EPS (3)
• Expected to realize more than $20 million in annual synergies by 2026
• Acquisition maintains low and flexible operating cost structure and a strong margin profile
• Combines Atlas’s Delaware Basin-leading logistics offering (Dune Express) with Hi-Crush’s Midland Basin-leading logistics offerings (Oncore + Pronghorn) to drive significant operational efficiencies
• The transaction is expected to close before the end of the first quarter of 2024

 

Bud Brigham, Executive Chairman and CEO of Atlas commented, “This is a great day for Atlas and Hi- Crush, we are thrilled to bring these two great organizations together. Both companies have led the industry’s innovations to drive efficiencies in proppant and logistics in different but complementary ways, a testament to the high quality people involved. Combining the teams, their technologies and best practices, as well as their complementary geographical footprint, should compound constructively to the benefit of our shareholders. It also furthers our goal to lead the industry in transitioning the Permian, already the premier producing region in the country, to becoming the most efficient and livable energy manufacturing center in the world.”

 

John Turner, President and CFO of Atlas commented, “Over the years both Atlas and Hi-Crush have invested significant capital in their proppant and logistics businesses to drive efficiency gains for our customers at the well site – Atlas with its Dune Express, high efficiency trucking operations, and autonomous trucking and Hi-Crush with its OnCore distributed mining network and Pronghorn logistics platform. These investments have supported a consolidating industry that has quickly scaled. We look forward to continuing to invest to drive innovation and efficiencies at the well site.”

 

1. The Transaction excludes Hi-Crush’s Northern White Sand mining assets, as well as its extensive rail terminal network in the Northeastern United States
2. Oncore’s distributed mining network of mobile proppant production assets currently includes Oncore #1-7, which are currently producing sand and Oncore #8, which is scheduled to open during the second quarter of 2024.
3. CFPS = Net income plus depreciation, depletion and amortization divided by shares outstanding ; EPS = Earnings per share

 

Dirk Hallen, CEO of Hi-Crush commented, “I’m so proud of all that our team has accomplished over the past several years. I thank our employees for their relentless effort restoring Hi-Crush to a leadership position in our industry and thank our partners at Clearlake Capital Group and Whitebox Advisors for their support. I echo Bud and John’s excitement in uniting two of the most innovative players in frac sand under Atlas. There is no doubt that this winning combination will be transformative for our industry, employees, customers, and shareholders.”

 

Colin Leonard, Hi-Crush Board Chairman and Partner at Clearlake Capital Group L.P. added, “This transaction represents an important milestone for Hi-Crush after going through a strategic transformation over the past several years in partnership with Dirk and the broader team. The leadership has driven innovation and growth, as well as transformed the operational footprint of the business to address the evolving needs of our customers. Atlas’ investment reflects their conviction in the strategy, and we look forward to all that we will accomplish together.”

 

Pro Forma Estimated 2024 Outlook

The transaction has an effective date of February 29, 2024 and as such, Atlas will begin to include Hi- Crush’s financial results in its financial results from March 1, 2024 onwards. The guidance below reflects this partial-year ownership of the Hi-Crush assets and will be impacted by the timing of the completion of the Dune Express and additional Oncore deployments.

On a combined basis, we’ll have 28 million tons of available production capacity, increasing to about 29 million tons in 2025 with a full year’s contribution and the benefit of these additional Oncore deployments. Given the effective date of February 29, 2024, 26 million tons of this capacity is available to us in fiscal year 2024. As our contracted volumes and Permian activity levels remain strong, and completions efficiencies continue to compound proppant usage, we expect to continue to operate at 85% to 90% utilization going forward. Taking into account Hi-Crush’s contracts, we expect our sand prices for 2024 to average between $26-$28 per ton. Assuming just over three quarters of contribution from Hi-Crush, we expect 2024 Adjusted EBITDA to range between $425 to $475 million. We expect total capex for 2024 to be between $335 and $360 million. This includes between $285 and $305 million in growth capex, consisting of $220 million for the construction of the Dune Express, between $25 and $45 million for Oncore deployments and another $40 million attributed to other capex. We are forecasting maintenance capex for 2024 will range between $50 and $55 million.

 

Financing Details

• Our ABL facility has been amended to, among other things increase the maximum borrowing availability to $125 million. Atlas intends to draw ~$50 million at closing
• Our Stonebriar Term Loan has been amended to, among other things install a new $150 million Acquisition Term Loan to be drawn at closing
• Atlas will use a combination of the above debt facilities to fund the cash component of the up-front purchase price and to add cash to the balance sheet to fund capital expenditures associated with Hi-Crush’s near-term investments in Oncore #8 and #9
• The number of shares to be issued to the seller at closing will be 9,711,432, as calculated pursuant to a 10-day volume weighted average share price as defined in the Merger Agreement

 

Advisors

Piper Sandler & Co. is serving as lead financial advisor to Atlas. Goldman Sachs is also advising Atlas. Vinson & Elkins LLP is serving as legal advisor in association with the transaction.

Moelis & Company LLC is serving as exclusive financial advisor to Hi-Crush. Baker Botts LLP is serving as legal advisor in association with the transaction.

 

Conference Call

The Company will host a conference call to discuss the transaction along with financial and operational results on Tuesday, February 27, 2024 at 8:00am Central Time (9:00am Eastern Time). Individuals wishing to participate in the conference call should dial (877) 407-4133. A live webcast will be available at https://ir.atlas.energy/. Please access the webcast or dial in for the call at least 10 minutes ahead of the start time to ensure a proper connection. An archived version of the conference call will be available on the Company’s website shortly after the conclusion of the call.

The Company will also post an updated investor presentation titled “Hi-Crush Acquisition Presentation”, at https://ir.atlas.energy/ in the “Presentations” section under “News & Events” tab on the Company’s Investor Relations webpage prior to the conference call.

About Atlas Energy Solutions

Our company was founded in 2017 by long-time E&P operators and led by Bud Brigham. Our experience as E&P operators, combined with our unique asset base and focus on using technology to deliver novel solutions to our customers’ toughest challenges and mission-critical needs differentiates us as the proppant and logistics provider of choice in the Permian Basin.

Atlas is a leader in the proppant and proppant logistics industry and is currently solely focused on serving customers in the Permian Basin of West Texas and New Mexico, the most active oil and natural gas producing regions in North America. Our Kermit, TX and Monahans, TX facilities are strategically located and specifically designed to maximize reliability of supply and product quality, and our deployment of trucking assets and the Dune Express is expected to drive significant logistics efficiencies.

Our core mission is to maximize value for our stockholders by generating strong cash flow and allocating our capital resources efficiently, including providing a regular and durable return of capital to our investors through industry cycles. Further, we recognize that our long-term profitability is maximized by being good stewards of the environments and communities in which we operate. In our pursuit of this mission, we work to improve the processes involved in the development of hydrocarbons, which we believe will ultimately contribute to providing individuals with access to the energy they need to sustain or improve their quality of life in a clean, safe, and efficient manner. We take great pride in contributing positively to the development of the hydrocarbons that power our lives.

About Hi-Crush

Hi-Crush Inc., together with its subsidiaries, is a fully-integrated provider of proppant and logistics services for hydraulic fracturing operations, offering frac sand production, advanced wellsite storage systems, flexible last mile services, and innovative software for real-time visibility and management across the entire supply chain. Hi-Crush’s strategic suite of solutions provides US oil and gas operators and service companies with the ability to build safety, reliability, and efficiency into every completion. Clearlake Capital Group L.P. and Whitebox Advisors LLC are the controlling shareholders of Hi-Crush Inc.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Statements that are predictive or prospective in nature, that depend upon or refer to future events or conditions or that include the words “may,” “assume,” “forecast,” “position,” “strategy,” “potential,” “continue,” “could,” “will,” “plan,” “project,” “budget,” “predict,” “pursue,” “target,” “seek,” “objective,” “believe,” “expect,” “anticipate,” “intend,” “estimate” and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements about the anticipated financial performance of Atlas following the transaction; the expected synergies and efficiencies to be achieved as a result of the transaction; expected accretion to free cash flow, cash flow per share, Adjusted EBITDA and earnings per share; expected production volumes; expectations regarding the leverage and dividend profile of Atlas following the transaction; expansion and growth of Atlas’s business; Atlas’s plans to finance the transaction; and the receipt of all necessary approvals to close the transaction and the timing associated therewith; our business strategy, our industry, our future operations and profitability, expected capital expenditures and the impact of such expenditures on our performance, statements about our financial position, production, revenues and losses, our capital programs, management changes, current and potential future long-term contracts and our future business and financial performance.

 

Although forward-looking statements reflect our good faith beliefs at the time they are made, we caution you that these forward-looking statements are subject to a number of risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. These risks include but are not limited to: the completion of the transaction on anticipated terms and timing or at all, including obtaining any required governmental or regulatory approval and satisfying other conditions to the completion of the transaction; uncertainties as to whether the transaction, if consummated, will achieve its anticipated benefits and projected synergies within the expected time period or at all; Atlas’s ability to integrate Hi-Crush’s operations in a successful manner and in the expected time period; the occurrence of any event, change, or other circumstance that could give rise to the termination of the transaction; risks that the anticipated tax treatment of the transaction is not obtained; unforeseen or unknown liabilities; unexpected future capital expenditures; potential litigation relating to the transaction; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; the effect of the announcement, pendency, or completion of the transaction on the parties’ business relationships and business generally; risks that the transaction disrupts current plans and operations of Atlas or Hi-Crush and their respective management teams and potential difficulties in retaining employees as a result of the transaction; the risks related to Atlas’s financing of the transaction; potential negative effects of this announcement and the pendency or completion of the transaction on the market price of Atlas’s common stock or operating results; commodity price volatility, including volatility stemming from the ongoing armed conflicts between Russia and Ukraine and Israel and Hamas; increasing hostilities and instability in the Middle East; adverse developments affecting the financial services industry; our ability to complete growth projects, including the Dune Express, on time and on budget; the risk that stockholder litigation in connection with our recent corporate reorganization may result in significant costs of defense, indemnification and liability; changes in general economic, business and political conditions, including changes in the financial markets; transaction costs; actions of OPEC+ to set and maintain oil production levels; the level of production of crude oil, natural gas and other hydrocarbons and the resultant market prices of crude oil; inflation; environmental risks; operating risks; regulatory changes; lack of demand; market share growth; the uncertainty inherent in projecting future rates of reserves; production; cash flow; access to capital; the timing of development expenditures; the ability of our customers to meet their obligations to us; our ability to maintain effective internal controls; and other factors discussed or referenced in our filings made from time to time with the U.S. Securities and Exchange Commission (“SEC”), including those discussed under the heading “Risk Factors” in our prospectus, dated September 11, 2023, filed with the SEC pursuant to Rule 424(b) under the Securities Act on September 12, 2023 in connection with our recent corporate reorganization, and any subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

 

Non-GAAP Financial Measures

This press release includes or references certain forward-looking financial measures not prepared in conformity with generally accepted accounting principles (“GAAP”), including free cash flow, cash flow per share, Adjusted EBITDA and earnings per share. Because Atlas provides these measures on a forward- looking basis, it cannot reliably or reasonably predict certain of the necessary components of the most directly comparable forward-looking GAAP financial measures, such as Gross Profit, Net Income, Operating Income, or any other measure derived in accordance with GAAP. Accordingly, Atlas is unable to present a quantitative reconciliation of such forward-looking, non-GAAP financial measures to the respective most directly comparable forward-looking GAAP financial measures. Atlas believes that these forward-looking, non-GAAP measures may be a useful tool for the investment community in comparing Atlas’s forecasted financial performance to the forecasted financial performance of other companies in the industry.

 

No Offer or Solicitation

This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Atlas Investor Contact

Kyle Turlington

5918 W Courtyard Drive, Suite #500

Austin, Texas 78730 United States

T: 512-220-1200

IR@atlas.energy

Transaction showcases Arevon and Blackstone’s strategic approach to financing clean energy projects through a combination of preferred equity, tax credit transfers, and debt

NEW YORK and SCOTTSDALE, Ariz. (February 13, 2024) – Arevon Energy, Inc., a leading renewable energy developer, owner, and operator, together with Blackstone Credit & Insurance (BXCI), today announced a successful financial close for the 200 megawatt/800 megawatt-hour Condor Energy Storage Project (Condor) currently under construction in Grand Terrace, California.

The project is anticipated to start operations in Q2 2024 and is contracted under a 15-year agreement with Southern California Edison. The project will be capable of providing firming capacity, enhancing grid reliability and stability alongside increased adoption of renewable energy resources. Condor features Megapack 2 XL, Tesla’s utility-scale battery system. Tesla has been contracted to provide O&M services for the project. Rosendin Electric, Inc. is the project’s engineering, procurement, and construction (EPC) contractor. Arevon will own and operate the project on a long-term basis.

Blackstone’s preferred equity investment in Condor is structured to simplify the monetization of tax credits, eliminating the need for traditional tax equity financing.

Zachary Rubenstein, Managing Director in the Blackstone Credit & Insurance Sustainable Resources Group, commented “Arevon is a world-class renewable energy company, and we are excited to be their partner on the Condor financing. Blackstone continues to see tremendous need for large scale financing solutions in the energy transition market, and we look forward to partnering with Arevon on future opportunities.”

The financing includes a commitment from Stifel Financial Corp. to buy investment tax credits and is supported with a $164 million debt facility which was secured with Coordinating Lead Arrangers CoBank ACB, Helaba, and Sumitomo Mitsui Banking Corporation. The Bank of New York Mellon served as Collateral and Administrative Agent. Arevon secured real estate financing from climate investment firm HASI related to the Condor Energy Storage Project land.

Daniel Murphy, Director of Project Finance at Arevon, remarked “Condor represents not only our commitment to developing assets that deliver grid resilience but also our team’s adeptness in navigating complex, hybrid financing arrangements. Along with our partners, we remain focused on pioneering climate finance solutions that promote a sustainable clean energy future.”

“Helaba is very pleased to support Arevon and its Condor battery energy storage project, which we expect to play an important role in California’s ongoing efforts to decarbonize its electric system,” Christian Jagenberg, EVP & General Manager at Helaba New York Branch said.

Stoel Rives represented Arevon as sponsor transaction counsel and CRC-IB served as sponsor tax equity advisors. Milbank LLP served as the preferred equity counsel, and Winston & Strawn LLP served as lender counsel. Monarch Private Capital served as advisor to the tax credit purchaser, with Orrick, Herrington & Sutcliffe LLP as counsel to Monarch, and Paul Hastings served as counsel to the tax credit purchaser.

“We are excited to support a great sponsor like Arevon for a great project like Condor in bringing together innovative financing and collaborative financing partners,” Conor McKenna, Partner & Senior Managing Director at CRC-IB said.

“We appreciate our partnership with Blackstone Credit and Insurance, a leading player in providing efficient solutions in the renewable energy market, along with our other valued partners, who played pivotal roles in navigating the intricacies of this transaction. Together, we have forged a path toward sustainable energy solutions, and we extend our sincere thanks to all involved for their dedication and expertise,” Kevin Smith, Chief Executive Officer at Arevon said.

About Arevon
Arevon Energy, Inc. is a leading renewable energy company, supplying clean energy to utilities and corporations across North America. Headquartered in Scottsdale, Arizona, and New York City, Arevon uses innovative approaches and leading-edge technology to develop, build, finance, own, and operate clean energy projects. Arevon owns and operates more than 3,500 megawatts (MW) of solar, storage, and solar + storage hybrid assets across the country. The company is a renewable energy leader in California with more than 1,900 MW in operation and more than 1,000 MW under construction. Arevon has a robust portfolio of more than 6 gigawatts of projects in development which will enable the company to provide more clean, cost-effective energy to homes and businesses. Its financial strength, innovation, and industry expertise come together to improve the structure and performance of its platform of solar and energy storage power plants. Arevon was named one of Arizona’s Top Workplaces in 2022 and 2023. For more information, please visit: www.arevonenergy.com.

About Blackstone Credit & Insurance Sustainable Resources Group
The Blackstone Credit & Insurance Sustainable Resources Group focuses on providing private credit to the renewable energy, infrastructure, and energy transition marketplace. The Group has approximately 40 investment professionals across North America, Europe, and Asia and invests across the credit spectrum in investment grade credit, non-investment grade credit, preferred and convertible securities. In 2022, Blackstone announced that it sees an opportunity to invest an estimated $100 billion in energy transition and climate change solutions projects over the next decade across its businesses.

Media Contact
Blair Matocha, Director of Communications
Arevon Energy, Inc.
bmatocha@arevonenergy.com
(713) 898-1325

Great things can be achieved together

By bringing together knowledge and expertise and, therefore, moving forward as one organisation, we can continue to provide first-class product solutions for paint application. And we can do all this with a focus on paint professionals and their work processes. As the companies behind the top brands Colad, Finixa and Hamach, we promise that paint professionals both at home and abroad will be able to carry out their work in a way that is safer, more efficient, of higher quality, more sustainable and more enjoyable. Recent product solutions such as the Colad UV Fast Curing System® and the Finixa Green Paint System are examples of how new ideas can come to fruition when the whole chain works together. Finixa’s eco-friendly product lineand Colad’s Pro Planet Proof product line are being developed further using this approach. The core productswill be available to purchase in the short term.

In 2021, EMM brought Quadrum Capital on board to accomplish shared ambitions in the future. In the new organisation, EMM and Chemicar will stay on as shareholders, with Quadrum Capital as the major shareholder. The management will head up the new organization under the leadership of joint shareholders Thomas van der Kooij and Piet Greeve. The merger of the two organisations will result in operations with a global reach, across more than 100 countries. This calls for additional, smart and advanced facilities, including the expansion of warehouse facilities. From Q1 2024, a total of 17,000 m² of warehouse space – with more than 10,000 pallet spaces – will be available in one location. The goal is to supply all business relationships from Zwolle after summer 2024.

EMM is a participating interest from Quadrum Investment Fund III. This Quadrum Capital fund has a size of over €250 million and is primarily funded by entrepreneurs and entrepreneurial families.

About EMM

Since its establishment in 1955, EMM has grown to become a global supplier and innovation partner to paint processing industries, including automotive, aerospace, marine and industrial. Through a continuous focus on product innovation, EMM is able to offer solutions that ensure higher productivity, quality and safety in paint processing. Products and machines under its own brands: Colad and Hamach form the basis for this. Co-creation is a spearhead in EMM’s approach: new ideas are further developed in cooperation with dealers and paint finishers at the head office in Zwolle (NL). EMM has offices in France, Germany, Sweden, South Africa and the United States and more than 75 employees worldwide. www.colad.com

About Chemicar

Chemicar Europe NV has more than 40 years of experience in the development and distribution of consumables, equipment and training for the professional car body repair, marine and industrial markets. Through a global network of dealers in more than 100 countries, goods and services are offered under the Finixa quality label, with an emphasis on responsible quality, sustainability and innovation. Almost all products are developed in-house and some manufactured in-house. The distribution and production centre is located in Zwijndrecht (BE) with more than 50 employees. ING Belgium, former minority shareholder of Chemicar, will exit the shareholding. www.finixa.com