2023-08-01 16:44:45
Downers Grove, Illinois und New York (ots/PRNewswire) – Shareholders will receive $36.15 per share
Univar Solutions Inc. (“Univar Solutions” or the “Company”) and Apollo (NYSE: APO) announced today that Apollo Funds has completed the previously announced acquisition of the Company, which includes a minority interest from a wholly owned subsidiary of the Abu Dhabi Investment Authority . The company will continue to operate under the Univar Solutions name and brand and maintain its global footprint.
David Jukes, President and Chief Executive Officer of Univar Solutions, said: “With the closing of this transaction, Univar Solutions begins a new chapter as we continue to expand our position as the world’s leading chemical and basic materials solutions provider and increase our flexibility to… Leveraging growth opportunities to the benefit of customers, vendors, employees and industry alike. I am delighted that we are in such an advantageous position thanks to our broad product offering and increased presence in high-growth target markets, our award-winning customer experience, our leading digital tools and our expanded service offering.”
Apollo Private Equity Partner Sam Feinstein said, “We look forward to partnering with David and the talented Univar Solutions team to build on the firm’s strong foundation and track record and leverage our extensive industry experience. We absolutely believe in Univar’s potential and look forward to embarking on a number of exciting initiatives to accelerate the company’s growth.”
transaction data
Under the terms of the transaction, an affiliate of Apollo Funds acquired all outstanding shares of Univar Solutions. Stockholders are entitled to $36.15 for each share of Univar Solutions (UNVR) common stock. As a result of the closing of the transaction, Univar Solutions common stock will no longer be traded on the New York Stock Exchange.
Advisor
Goldman Sachs & Co. LLC and Deutsche Bank Securities Inc. served as financial advisors to Univar Solutions and Wachtell, Lipton, and Rosen & Katz served as senior advisors to Univar Solutions.
Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Apollo Funds.
JP Morgan Securities LLC acted as principal financial advisor to Apollo. BMO Capital Markets, BNP Paribas Securities Corp., Credit Suisse, Guggenheim Securities, LLC HSBC Securities (USA) Inc., Mizuho Securities USA LLC, RBC Capital Markets, LLC and Wells Fargo Securities, LLC served as financial advisors to Apollo.
Cleary Gottlieb Steen & Hamilton LLP served as legal counsel to ADIA.
Forward-Looking Statements and Information
This release contains forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally qualified by the use of forward-looking words such as “believe”, “expect”, “may”, “will”, “should”, “might”, “aim”, “intend”, “plan”, “estimate”. “, “anticipate” or other similar terms. All forward-looking statements in this release are qualified in their entirety by this cautionary statement.
Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company’s control. Potential factors that might affect such forward-looking statements include, among others: general economic conditions, particularly fluctuations in industrial production and consumption and the timing and magnitude of economic downturns; significant changes in manufacturers’ business strategies or in customers’ operations; increased competitive pressures, including from the consolidation of competitors; potential supply chain disruptions; significant changes in chemical prices, demand and availability; potential cybersecurity incidents, including security breaches; the Company’s indebtedness, the limitations and costs associated with its debt instruments and its ability to obtain additional financing; the wide array of laws and regulations to which the Company is subject, including extensive environmental, health and safety laws and regulations, and changes in tax laws; a potential inability to generate sufficient working capital; transportation-related challenges, including increasing transportation and fuel costs, changes in the Company’s relationship with third-party transportation service providers and the ability to attract and retain qualified drivers; Accidents, safety failures, environmental damage, product quality problems, supply failures or hazards and risks associated with its operations and the hazardous materials it handles; the potential inability to obtain adequate insurance coverage; ongoing litigation, potential product liabilities and recalls and other environmental, legal and regulatory risks; challenges related to international business activities; exposure to interest rate and currency fluctuations; the inability to integrate the business and systems of companies it acquires, including failure to realize the expected benefits of such acquisitions; possible impairment of business and intangible assets; its ability to attract and retain qualified and diverse employees; adverse developments affecting its retirement plans and multi-employer pensions; disruptions to work related to the unionized portion of its workforce; its ability to successfully implement its initiatives and objectives related to environmental, social and governance (ESG) issues and the increasing legal and regulatory focus on ESG; the impact of the conflict in Ukraine or related geopolitical tensions; the Company’s ability to successfully recover from a disaster or other business continuity problems caused by a hurricane, flood, earthquake, terrorist attack, war, conflict, pandemic, security breach, cyber attack, power outage, telecommunications outage or other natural or man-made events, including the ability to work remotely during long-term disruptions such as the COVID-19 pandemic; the impact of health crises such as pandemics (including the COVID-19 pandemic) and epidemics, and any related corporate or governmental actions to protect the health and safety of individuals or governmental actions to maintain the functioning of national or global economies and markets, including quarantines , shelter in place, stay at home, workforce reduction, social distancing, lockdown or similar measures and policies; actions of third parties, including government agencies; and the other factors described in the Company’s SEC filings. For more information regarding factors that might cause actual results and events to differ materially from those projected herein, please refer to the Company’s most recent Annual Report on Form 10-K for the year ended December 31, 2022 and others by documents filed with the SEC by the company, including subsequent current reports on Form 8-K and quarterly reports on Form 10-Q. We caution you that the forward-looking information contained in this release is not a guarantee of future events or results and that actual events or results might differ materially from those expressed or implied by the forward-looking statements.
Any forward-looking statements represent the Company’s views only as of the date of this release and should not be relied upon as the Company’s views as of any later date, and the Company undertakes no obligation to update any forward-looking statements except as required by law.
About Univar Solutions
Univar Solutions is a leading global specialty chemicals and ingredients supplier, representing a world-class portfolio of world-leading manufacturers. With the industry’s largest private transport fleet and technical sales team, unparalleled logistics know-how, in-depth market and regulatory knowledge, recipe formulation and development, and leading-edge digital tools, the company is well positioned to deliver tailored solutions and value-added services to a variety of markets, offer industries and applications. Univar Solutions aims to promote the health, nutrition, cleanliness and safety of the population while supporting customers and suppliers to innovate and focus on mutual growth. Visit univarsolutions.com for more information.
About Apollo
Apollo is a high-growth, global alternative wealth manager. In our wealth management business, we seek to provide clients with return across the risk-return spectrum from investment grade to private equity, with a focus on three investment strategies: yield, hybrid and equity. Through our fully integrated platform and with our expertise, we have been supporting our clients with solutions tailored to their needs for more than three decades and offer companies innovative capital solutions to finance their growth. Through Athene, our retirement services division, we specialize in helping clients achieve financial security by offering a range of retirement products and acting as a solution provider for institutions. Our patient, creative and knowledgeable approach to investing aligns our clients, the companies we invest in, our people and the communities we impact to expand opportunities and create positive outcomes. As of March 31, 2023, Apollo had approximately $598 billion in assets under management. For more information, see www.apollo.com.
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Questions & contact:
CONTACT for UNIVAR SOLUTIONS: Media contacts: Dwayne Roark,
+1-331-777-6031,
mediarelations@univarsolutions.com; or contact person for APOLLO: Global Head of Investor Relations: Noah Gunn,
+1-212-822-0540,
AND@Apollo.com,
Global Head of Corporate Communications: ,
Joanna Rose +1-212-822-0491,Communications@Apollo.com
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