N+1 Hires Schneider to Run Chemical M&A as Deals Pick UpAndrew Noel
N+1 Group, a Spanish investment bank specializing in small- and medium-sized deals, appointed Bernd Schneider as its global head of chemical-company mergers and acquisitions as transactions in the industry pick up.
Schneider, 43, will be a partner and managing director at N+1’s Frankfurt office, the Madrid-based company said in a statement today. He is shifting from U.S. investment bank Lincoln International.
“This addition will improve N+1 Group’s overall market position in chemicals on a global scale,” Wolfram Schmerl, head of the Spanish bank’s German business, said in the statement.
The flow of M&A in the chemical industry is accelerating, with deals totaling $30.2 billion in the third quarter, double the value of the second quarter, according to a report by PricewaterhouseCoopers LLP. Savings from cost cuts are providing companies with cash to reinvest in areas that bolster growth at their main businesses, Pamela Schlosser, PwC’s U.S. chemical leader, said in the report.
“Larger deals, especially those involving U.S.-based players, are being driven by opportunities to increase the size of their operations to meet growing demand for end-use markets such as automotive, construction, durable goods and plastics,” Schlosser wrote in the study, released on Oct. 23. “We expect momentum in chemical deals to continue through 2014.”
Transaction value in the first nine months of this year already exceeded the full-year total for 2013, bolstered by nine deals of more than $1 billion, PwC said. Private-equity involvement in the the industry declined to 18 percent of volume from 21 percent in the previous quarter.
Schneider, who earned a doctorate in polymer chemistry at Bayreuth University, went on to work at Siemens AG’s catalysts division and at PwC, before spending three years as head of chemicals at Lincoln.