Publications
Publications
- July 2021
- HBS Case Collection
The Carlyle Group: Carving Out Atotech
Abstract
Teaching Note for HBS Case No. 321-153. On January 31, 2017, The Carlyle Group ("Carlyle") closed its $3.2 billion acquisition of Atotech, an international Specialty Chemicals and Equipment company. In Carlyle's Washington, DC headquarters, the US-based deal team—Martin Sumner, Greg Nikodem, Tanaka Maswoswe (HBS '10), and Luke Mehmeti (HBS '20)—breathed a sigh of relief as they reflected on the prior six months, shepherding the opportunity through a competitive bidding process and numerous international regulatory approvals to a signed and completed transaction. Getting the deal over the finish line had required a monumental, cross-border effort, with close collaboration among the US team, European buyout colleagues Friedel Drees and Willi Westenberger, and Asian buyout colleagues Herman Chang and Yi Yu. They all knew, however, that the real work lay ahead: executing on the transformation plan developed during the many months of diligence.
Keywords
Oil ＆ Gas; Deal; International Acquisition; International; Acquisition; Negotiation; Negotiation Deal; Transformation; Chemicals; Markets; Bids and Bidding; Globalized Markets and Industries; Standards; Chemical Industry; United States; Europe; Asia; Germany
Citation
Kanter, Rosabeth Moss. "The Carlyle Group: Carving Out Atotech." Harvard Business School Teaching Note 322-022, July 2021.