Baker McKenzie is advising specialty chemicals group Evonik Industries AG in its acquisition of Porocel Group for USD 210 million. Based in Houston, Texas (USA), Porocel offers a technology for efficient rejuvenation of desulfurization catalysts, which are in increasing demand to produce low-sulfur fuel. Rejuvenation reduces carbon-dioxide emissions by more than 50 percent compared with the production of new desulfurization catalysts. Catalysts are essential for the production of many chemical products and for production of clean fuels.
Porocel has more than 300 employees worldwide and production facilities in the USA, Canada, Luxembourg, and Singapore. Porocel’s global position strengthens the worldwide presence of Evonik's catalyst activities. The complementary fit to Evonik’s existing catalyst portfolio and Porocel's available production capacities offer considerable growth opportunities.
The Baker McKenzie M&A team is led by Dieter Schmitz in the United States and includes:
US: Michelle Carr, Jimmie Covington, Nina Nolan
Canada: Matthew Grant
China: Tracy Wut
Luxembourg: Jean-Francois Findling
Singapore: Andrew Martin
Litigation: John Murphy
Banking and Finance: Garry Jaunal, Brian Lee
Tax: Kai Kramer, Ross Staine
Environmental: Doug Sanders, Jessica Wicha
Real Estate: Brian Zurawski, Sarah Swain
IP: Richard Wells, Ellen Cheong
Baker McKenzie is a transactional powerhouse with over 2,500 deal lawyers and expertise in over 46 countries. We excel in cross-border deals – over 60% of our deals are multi-jurisdictional. We are global and local, combining money-market sophistication with local excellence.
Evonik is one of the world leaders in specialty chemicals. The company is active in more than 100 countries around the world and generated sales of €13.1 billion and an operating profit (adjusted EBITDA) of €2.15 billion in 2019. Evonik goes beyond chemistry to create innovative, profitable and sustainable solutions for customers.
About Baker McKenzie
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