Sale of Business Key (Spain) by Royal Ten Cate
Royal Ten Cate divested its Spanish subsidiary Business Key. Business Key, located in Barcelona, is a stock keeping distributor of a full range of valves and fittings for liquid systems for the building, agricultural and industrial sector. Business Key was part of Mega Valves International, which was divested by Royal Ten Cate in 2005, with PhiDelphi as advisor.
Royal Ten Cate, listed at Euronext Amsterdam, has three divisions: Advanced Textiles & Composites, Geosynthetics & Grass and Technical Components. In 2006 Royal Ten Cate realised with 3,500 employees a turnover of Euro 771 million and an operating profit of Euro 50 million.
PhiDelphi acted in this transaction as advisor of Royal Ten Cate.