Houlihan Lokey Advises the Helios Group

Houlihan Lokey is pleased to announce the sale of Annagab SA, a holding company of the Helios Group and subsidiary of Ring International Holding AG. Kansai Paint Co., Ltd., has acquired all Annagab SA shares from Ring, GSO, Franklin Templeton, and other shareholders for a total value of EUR 572 million. The transaction closed on March 31, 2017.

Based in Slovenia (Domžale), the Helios Group is a leading manufacturer of coatings in Western Europe and the CEE/CIS regions with companies and production sites located in 18 countries worldwide. The group is involved in the manufacturing and sale of the full spectrum of coating products, including highly specialised industrial coating niches such as core plate varnish. With more than 2,000 employees worldwide and EUR 387 million in sales, the Helios Group is one of the top ten coating companies in Europe.

Headquartered in Japan (Osaka), Kansai Paint is a leading coatings and chemicals group listed on the Tokyo Stock Exchange. The group is involved in the manufacturing and sale of automobile, industrial, and other coatings. With more than 12,000 employees worldwide, Kansai Paint is one of the world's top ten coating manufacturers with production sites in over 43 countries.

The Helios Group's industrial coating product portfolio and its diverse client base is highly synergistic with Kansai Paint's European industrial coating business, which is currently mostly focused on the automotive industry. Furthermore, the Helios Group's strength in the decorative coatings and car refinishing markets in Eastern Europe, Russia, and CIS along with its extensive distribution network are key selling points, as they enable Kansai Paint to expand its geographic footprint to include additional growing emerging markets. Through the transaction, the Helios Group will gain access to key resources it needs to further grow its business.