Sole financial advisor on the sale of Titán
AZ Capital has advised ITSAU on the sale of Titan Powder Coatings to Tintas Neuce and to Fábricas Folch in the sale of Titan (ITSAU) to AzkoNobel.
Titan Powder Coatings, based in Portugal, is the second leading manufacturer of powder coatings in the Iberian Peninsula. Industrias Titan, founded in 1917 and headquartered in El Prat de Llobregat, is the leading company in the Spanish decorative paint market with reference brands such as Titanlux and Oxiron.
Regarding the bidders, Tintas Neuce, based in Portugal, is a group dedicated to the production and commercialization of paints, varnishes and coatings with great relevance in the Iberian market and in Africa. AkzoNobel, headquartered in Holland, is one of the global leaders in the manufacture of paints and coatings. The company is present in Spain with brands such as Bruguer, Xylazel and Procolor, among others.
The transaction is part of Fábricas Folch's divestment of its paint and coatings business.
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