Houlihan Lokey Advises Sinterama

Houlihan Lokey is pleased to announce the sale of Sinterama S.p.A. to Indorama Ventures Public Co. Ltd. (IVL). The transaction closed on November 19, 2019.

Sinterama, headquartered in Italy, is the European leader in the production of colored polyester yarns. The group is vertically integrated and covers the entire production process that goes from polyester chips to yarns. Sinterama products are considered specialties and used in the production of textiles for automotive, home textile, clothing, and woven label sectors. The group generated approximately €130 million of revenues and €12 million of EBITDA in 2018.

Headquartered in Bangkok and listed on the Stock Exchange of Thailand, IVL is a major global chemicals company and one of the largest vertically integrated polyester value chain producers in the world, serving world-class customers in diversified end markets. IVL has revenues of approximately $10 billion and EBITDA of approximately $1.4 billion. More than 17,000 employees support IVL's operations across 101 sites in 31 countries.

This acquisition is a perfect fit for IVL, providing an excellent platform to integrate its existing specialties business with Sinterama's strong production base. The highly complementary portfolio, customer base, and geographical footprint of the two companies will open up new market opportunities for IVL.

The transaction demonstrates Houlihan Lokey's strength in achieving superior outcomes for the client. Houlihan Lokey served as sole financial advisor to Sinterama throughout the sale process, from the scouting and initial contacts to the final negotiation with the counterparties.

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