NEW YORK AND LYON, France – Apollo (NYSE: APO) today announced that funds managed by its affiliates (the “Apollo Funds”) have completed the acquisition of Kem One Group (“Kem One” or the “Company”) from De Krassny GmbH. Kem One is a leading European producer of polyvinyl chloride (PVC), used mainly in construction, packaging and medical applications, as well as caustic soda. The Company operates eight industrial sites across France and Spain.

The acquisition marks the beginning of an exciting new phase for Kem One, as the Company pursues its growth strategy and executes plans to modernize its production footprint.

"We are excited to support Kem One’s continued evolution, focused on serving Kem One’s customers, improving production reliability, and reducing Kem One’s environmental footprint. We look forward to working with Kem One’s management team and employees over the years to come," said Sam Feinstein, partner at Apollo. 

Frédéric Chalmin, CEO of Kem One, commented: "The success of this transaction is the work of all the employees, as Alain de Krassny, former Chairman of Kem One, has often emphasized. Now, together with Apollo, we will finalize our current industrial projects, such as the construction of the ethylene storage terminal and the conversion of the Fos-sur-Mer electrolysis plant. Apollo will work with us to implement other large-scale projects to accelerate Kem One's growth, and we are confident Kem One will benefit from their extensive experience in the chemicals industry."

With a long and highly successful track record in the chemicals sector, Apollo plans to leverage its knowledge and investment platform to support the Kem One team. Apollo-managed funds have completed 16 major chemicals transactions, including LyondellBasell, which was one of the most successful private equity investments of all time. 

Frédéric Chalmin will continue as CEO of Kem One, reporting to the Board of Directors composed of several Apollo representatives as well as independent directors with industry expertise. Jim Voss has been appointed Chairman of the Board.

Kem One and Mr. de Krassny were advised by Evercore as sole strategic and financial advisor, and Orrick, Herrington & Sutcliffe LLP as legal advisor.

The Apollo Funds were advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP and Bredin Prat SAS as legal advisors. Barclays, HSBC, and RBC Capital Markets served as financial advisors to the Apollo Funds in connection with the transaction.