The M&A Success Story of PCC
We continuously optimize our investment portfolio through precisely targeted acquisitions, IPOs, and company sales.
PCC SE is a growth-oriented investor with a stable and future-oriented investment portfolio that we continuously optimize. Through acquisitions and investment projects, we tap into new markets and stimulate future growth. Targeted IPOs strengthen our capital base, while consistent company sales free up resources for the expansion of core activities.
The M&A Strategy of PCC SE: Strengths and Opportunities
Competence-related investments based on a broadly diversified portfolio in the chemical and logistics sectors
Profound expertise in successful company development since 1993
Excellent knowledge of international growth markets, particularly Eastern European production and sales markets
Focus on lucrative and less competitive sub-markets and market niches
Increasing synergies between individual divisions and new business areas; focus on extending the value chain
Sale of existing and newly developed products in ever more and increasingly diversified segments
Highlights of PCC’s M&A track record
2000 – 2008:
Acquisition of shares in Polish freight transport companies until the consolidation of these activities in the PCC Logistics (Poland) group of companies, which became the country’s largest private rail freight operator in 2009.
2002 – 2010:
PCC successively purchases shares in a major Polish chemicals producer destined to become PCC Rokita SA. The full acquisition of this, the biggest company in the PCC Group, was completed in 2010.
2006:
PCC goes overseas. Through the acquisition of a business unit of Rütgers Organics Corporation, PCC Chemax, Inc. is established in Piedmont (South Carolina, USA). Today, this surfactants manufacturer is part of PCC Exol SA.
2009:
Acquisition of the company known today as PCC Silicium S.A. in Zagórze (Poland) which operates a quartzite quarry. It constitutes the raw material base for the silicon metal production plant which we commissioned in 2018.
2015 – 2018:
PCC Rokita SA establishes a joint venture with the Thai polyol and PU manufacturer IRPC Polyol Company Ltd. and acquires a total of 50% of the shares in the partner company by 2018.
Two PCC Group companies are quoted on the Warsaw Stock Exchange (GPW): PCC Rokita SA and PCC Exol SA. The market value of the shares held by PCC SE including its subsidiaries in these affiliates totaled € 471.0 million as of December 31, 2023. Their joint market capitalization per reporting date amounted to € 555.1 million.
PCC SE remains the main strategic investor in all its listed subsidiaries. A transparent market price, a strengthened equity base and the possibility of also carrying out investments in the future on the back of further equity-raising activities are the drivers of PCC’s stock market flotation policy.
2012:
Partial flotation of PCC Exol SA on the Warsaw Stock Exchange
Issuance proceeds: around €2,5 million
PCC SE shareholding: around 87%
2014:
Partial flotation of PCC Rokita SA on the Warsaw Stock Exchange
Issuance proceeds: around €11 million
Simultaneous capital increase: around €13 million
PCC SE shareholding: around 84%
Highlights of PCC’s M&A track record
2008:
Sale of Rokita-Agro, Brzeg Dolny (Poland), to the Israeli agrochemical producer Makhteshim Agan Industries.
2009:
Sale of the PCC Logistics group of companies (Poland) to Deutsche Bahn AG. With this divestment, PCC achieves its biggest success to date in its active investment portfolio management strategy.
2010:
Sale of the energy supplier PCC Energie GmbH, Duisburg, to the Spanish company Nexus Energía S.A.
2015:
Sale of the telecommunications and data center provider 3Services Factory S.A., Katowice (Poland), to an international investment fund.
Within the Projects business unit of the holding company PCC SE, we manage important future-aligned undertakings at the planning, financing and construction phase before transferring them to our operational Group segments. This initial development approach enables us to reduce the burden of project management on the segments concerned, while at the same time leveraging experience gained at the Group level from more than three decades of planning and project stewardship in the development of new fields of activity. In this way, we have, for example, built a production facility for silicon metal in Iceland.
Highlights of PCC’s project financingHighlights unserer Projektfinanzierung
PCC’s successful engagement in the renewable energy power plant segment starts in 2005 with the establishment of the joint venture PCC DEG Renewables GmbH with KfW subsidiary DEG mbH. Initial financing: €8 million. Six environmentally friendly small hydroelectric power plants have been put into operation in Southeast Europe to date.
PCC SE and its Russian partner JSC Shchekinoazot establish the joint venture OOO DME Aerosol in 2012, the basis for a bank-financed project to produce high-purity dimethyl ether (DME). Project volume: €20 million. The plant is commissioned in December 2018 after just over one and a half years of construction.
In multi-year negotiations, PCC SE secures financing for the construction of a state-of-the-art silicon metal plant in Iceland. A large part of the investment volume of 300 million US dollars (about €265 million) is covered by a loan from KfW IPEX-Bank, and Icelandic pension funds are also involved, among others. Plant construction begins in 2015, with commissioning in 2018. The plant, whose production is supplied exclusively with electricity from renewable energy sources, is operated by the Icelandic subsidiary PCC BakkiSilicon hf.
PCC SE plans to set up a production facility for oxyalkylates (non-ionic surfactants and polyether polyols) in Malaysia in a 50/50 joint venture with one of the leading integrated chemical players in Southeast Asia, PETRONAS Chemicals Group Berhad (PCG). For this purpose, in 2017 the project company PCC-OM was established in Malaysia, in which PCG acquired a 50% stake in 2020. The planned facilities are located at PCG’s petrochemical complex in Kertih in the Malaysian province of Terengganu.
