Haldor Topsoe Seeks Minority Investors
Danish technology and catalysis company Haldor Topsoe is seeking minority investors to accelerate its growth and further strengthen the business.
The company is currently 100% family owned through Haldor Topsoe Holding, which will continue as the long-term majority shareholder. It is also looking at an initial public offering (IPO) some years ahead.
Jeppe Christiansen, chairman of Haldor Topsoe’s board of directors, said the county wants to strengthen its capital base by inviting one or more financial partners to invest in with a long-term intention to list the company.
“We believe that long-term majority shareholders combined with minority shareholders on the stock exchange is proven to be a very strong ownership structure for resilient and profitable development. Our ambition is to grow organically and potentially also drive growth through acquisitions,” Christiansen said.
The company said it intends that a future financial minority partner could own a significant share of the company with an option of an IPO after five to seven years. It added that the search would be selective but not limited to a specific type of investor.
Sweden’s Skandinaviska Enskilda Banken and US-headquartered Citigroup have been appointed as advisors for the search process.
In separate news, Haldor Topsoe has agreed to supply its SynCor reforming technology for Baltic Gas Chemical’s proposed methanol plant in Ust-Luga, Russia. Topsoe will provide the license, basic engineering and catalysts, while partner Mitsubishi Heavy Industries Engineering (MHI) will be responsible for front end engineering design and engineering, procurement and construction.
The facility will have a capacity of 1.7 million t/y, making it one of the world’s largest single-train methanol plants.
Haldor Topsoe is also supplying its SynCor process to IGP Methanol’s planned complex in Myrtle Grove, Louisiana, USA. The facility will comprise four identical methanol trains, each producing 1.8 million t/y. Production is scheduled to start in late 2020.
