Flacks Group Closes on $400 Million Mining Acquisition from Imerys - Middle East News 247
July 14, 2024
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Flacks Group Closes on $400 Million Mining Acquisition from Imerys

Flacks Group is proud to announce the acquisition of Artemyn, a division previously owned by Imerys SA (EPA: NK), a publicly listed company on the Euronext. This strategic move marks Flacks Group’s official entry into the mining industry and significantly strengthens its diversified portfolio.

Artemyn, with 1000 employees across 24 plants in the Americas, Asia, and Europe, generated $400 million in revenue and $60 million in EBITDA. This acquisition enhances Flacks Group’s portfolio, leveraging the strong performance and global reach of Artemyn. Notably, Artemyn owns the world’s largest kaolin operation with unique high-quality reserves in Brazil.

Flacks Group, owned by Chairman and CEO Michael Flacks, holds over $4 billion worth of assets globally. The company operates in the mining, renewable energy, water, chemicals, oil and gas, and real estate sectors.

Among Flacks Group’s diversified portfolio is Pleuger Industries, a renowned supplier of rotating equipment with over a century of experience and facilities in Germany, France, and the USA. Pleuger Industries is a key provider of dewatering and mission-critical equipment to major mining operations worldwide. Known for their high-efficiency submersible motors and pumps, Pleuger Industries delivers premium German-engineered solutions for water applications. Pleuger Industries will collaborate with Artemyn to enhance operational efficiencies and drive R&D in mining products.

Morgan Stanley served as an investment banker on the deal, with Latham & Watkins LLP, Moncey Avocats Law Firm, and Berger Singerman LLP acting as transactional lawyers.

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