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Sale of DEVAN to Pulcra Chemicals

Paris (France), the 1st of July of 2021,

Financière de Courcelles (FDC) advised the Belgian private equity fund Pentahold on the sale of their shares in Devan Group, a specialist in innovative and sustainable solutions for the textile world, to the German group Pulcra Chemicals.

Devan is notably known for its numerous innovations in anti-microbial and anti-viral solutions under the brand name BI-OME, as well as its strong expertise in the field of thermoregulation, flame retardants and probiotics-based products. Over the past years, Devan has strongly invested in the development of bio-based and sustainable solutions for the textile sector.

Headquartered in Ronse, Belgium, Devan also operates offices in Portugal, United Kingdom, USA and a team in Shanghai (China) and realised more than € 15 m of turnover.

FDC organized and managed the M&A process and assisted Pentahold and Devan Management in the selection of Pulcra Chemicals’ industrial project, one of the European leaders in textile chemicals.

The merger of the two companies will appropriately position Pulcra Chemicals to address the customers’ constant evolving needs thanks to Devan innovative and sustainable solutions and hence accelerate Devan development in global textile markets.

Headquartered near Munich (Germany), Pulcra Chemicals employs approximately 1,000 people at 13 global sites and serves more than 3,000 customers in the field of textiles, fibers and leather processing products.

With Devan Group, Pulcra Chemicals has achieved its first-ever acquisition.


Sellers and advisors:

  • Company: Pentahold (Geert Vanderstappen, Karel Gielen), Devan Chemicals (Sven Ghyselinck, CEO ; Olivier Kiekens, CFO),
  • Lawyer: Argo Law (Bert Van Ingelghem, Mattias Verbeeck)
  • M&A: Financière de Courcelles (Audrey Gennequin), Capstan Corporate Finance (Serge Capier)

Acquiror and advisors:

  • Company: Pulcra Chemicals (Ümit Yaldiz)
  • Lawyer: PwC Legal (Pierre Queritet)

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