Latham & Watkins advises Silverfleet Capital in the sale of Coventya to Element Solutions Inc.

Silverfleet announced having entered into exclusive discussions with the Element Solutions group in connection with contemplated the sale of Coventya, an international specialty chemicals business headquartered in France, Completion of the transaction is subject to certain regulatory approvals and is expected by Q3 or Q4 2021.

Founded in 1927, Coventya is a leading developer and manufacturer of specialty chemicals used for surface treatment within the General Metal Finishing plating industry. The firm operates in 60 countries across four continents, employing c.700 staff based in 12 production sites and 10 R&D centres. The company produces a wide range of products used in numerous sectors including automotive, luxury and consumer goods, construction, aviation, data storage and Energy.

Latham advises Silverfleet in the transaction with a Paris corporate team led by partners Thomas Forschbach and Alexander Benedetti. Partner Jacques-Philippe Gunther advises on antitrust aspects and partner Matthias Rubner advises on labor law aspects.