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Summary
The Swiss Corporate Finance Team is pleased to announce the completion of Project Florida, the acquisition of ERNE surface AG by Thommen-Furler Group. PwC acted as lead advisor to Thommen-Furler Group.
The background
ERNE surface AG, founded in 1936, over the past 85 years has developed into the leading Swiss provider of chemical surface treatments and galvano techniques (electroplating). The wide range of products is supplemented by plant engineering and a range of additional services such as laboratory analyses, process and procedural developments and training.
With the acquisition of ERNE surface AG, Thommen-Furler Group is further expanding its competencies and capacities in the business area “Lubricants, cleaners and surface treatment”. By merging with the Thommen-Furler Group, ERNE surface AG is developing into a system house for surface technology and electroplating, which can now also offer a comprehensive disposal and recycling service, coupled with the well-known and fully integrated Thommen-Furler logistics.
With immediate effect, customers and partners benefit from the Thommen-Furler Group’s long-standing and proven business model: “ChemChare® - supply, support, recycling – everything from a single source!”
The buyer
Thommen-Furler Group, headquartered in Rüti b. Büren (Canton of Berne, Switzerland), is an owner-managed family business with more than 13,000 customers. The group generates annual sales of approx. CHF 200 million, has 400 employees and operates from 8 different locations. In total, the company manages more than 280,000 sqm. of operating space and owns 170 logistic means on rail and road as well as 3 own railway track systems.
The company is specialised in the distribution of chemicals and lubricants, environmental technology, and the disposal and recycling of industrial and hazardous waste.
Since 2018, Thommen-Furler Group acquired the following companies: Alcosuisse AG, Spaltag AG, Alab AG, Recyplus Entsorgung AG (formerly known as K+S Entsorgung (Schweiz) AG) and ERNE surface AG, all with the support of PwC.
The PwC team
M&A Lead Advisory
Tax Services
Sophie Limbioul
P&O
Markus Schneeberger