Regulatory Filings • Mar 16, 2016
Regulatory Filings
Open in ViewerOpens in native device viewer
On March 16th, 2016 CSP Technologies NA announced the acquisition of Maxwell Chase Technologies ("Maxwell Chase"), a US-based producer of absorbent and non-absorbent packaging solutions for the food industry with approximately \$17 million in 2015 revenue. Maxwell Chase is CSP's first acquisition since Wendel's initial investment in January 2015. It represents a significant platform for further expansion into the food industry, in line with CSP's diversification and growth strategy.
Founded in 1994, Maxwell Chase is an Atlanta, Georgia-based producer of innovative active packaging solutions that control moisture and thereby improve quality and extend shelf life in fresh foods, including fresh-cut fruits, vegetables, meats, poultry, and seafood. The company also produces processing equipment that integrates with its packaging to deliver superior yield and substantially lower labor costs.
"In CSP, we have found a partner that understands Maxwell Chase's heritage and its emphasis on innovation, quality and, most importantly, people, which have been essential to its success over more than 20 years," said Michael Walsh, CEO and part-owner of Maxwell Chase.
John Belfance, CEO of CSP Technologies said, "We are very excited about adding Maxwell Chase to the CSP family. Under Michael's leadership, Maxwell Chase has developed a differentiated product offering supported by its expertise in moisture-absorbent technology and focus on high quality and exceptional customer service that has led to a long track record of solid growth. Maxwell Chase represents a significant step in our efforts to diversify CSP's business profile and our long-term strategy to develop active packaging solutions for the healthcare and food industries. We look forward to working the Maxwell Chase team."
Wendel will support CSP Technologies in this strategic acquisition with a new ca. \$29 million equity investment in the Company and will therefore increase its total equity investment to ca. \$227 million.
3/31/2016 2015 full-year results / Publication of NAV (pre-market release)
Shareholders' Meeting / Publication of NAV and trading update (before Shareholders' Meeting)
CSP Technologies is a global provider of custom polymeric solutions and specialty protective packaging. Using patented Activ-Polymer™ advanced desiccant polymer technology, CSP Technologies manufactures innovative protection solutions that enhance the stability, shelf life and convenience of our customers' products. The company was founded in 1928 and is headquartered in Auburn, Alabama with manufacturing facilities in Niederbronn, France.
For more information, please visit http://csptechnologies.com
Wendel is one of Europe's leading listed investment firms. The Group invests internationally, in companies that are leaders in their field, such as Bureau Veritas, Saint-Gobain, Cromology, Stahl, IHS, Constantia Flexibles and AlliedBarton Security Services. Wendel plays an active role as industry shareholder in these companies. It implements longterm development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions. Through Oranje-Nassau Développement, which brings together opportunities for investment in growth, diversification and innovation, Wendel is also a shareholder of exceet in Germany, Mecatherm and Parcours in France, Nippon Oil Pump in Japan, Saham Group in Africa and CSP Technologies in the United States.
Wendel is listed on Eurolist by Euronext Paris.
For more information: www.wendelgroup.com Follow us on Twitter @WendelGroup
Standard & Poor's ratings: Long-term: BBB-, stable outlook – Short-term: A-3 since July 7, 2014. Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of "Grand Mécène de la Culture" in 2012.
Christine Anglade-Pirzadeh: +33 (0)1 42 85 63 24 Olivier Allot: +33 (0)1 42 85 63 73 [email protected] [email protected]
Caroline Decaux: +33 (0)1 42 85 91 27 Elisa Muntean: +33 (0)1 42 85 63 67
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.