SORGEM Evaluation acted as independent expert to value Humens preference shares
At the end of December 2023, Eurazeo, Ardian, Mérieux Equity Partners and Eximium announced that they had sold their stakes in the Humens group to Leto Partners, a French private equity firm dedicated to decarbonization issues.
Humens is a player in high-purity mineral specialties with strong roots in Europe and Asia. The Group mainly supplies sodium bicarbonate to the pharmaceutical, cosmetics and food industries, as well as sodium carbonate used in the production of flat and hollow glass.
As part of the takeover, a management package was put in place, including preferred shares. SORGEM Evaluation is regularly involved in this type of assignment, which requires specific expertise (the valuation of optional securities requires the implementation of specific valuation models), and our long experience of litigation and tax audits also enables us to provide invaluable advice to limit the risks of contestation (which can lead, in particular, to capital gains being reclassified as salary).