Total sheds chemicals unit

PARIS, October 7, 2016 – Private equity firm Carlyle Group will be acquiring Total’s speciality chemicals unit, the companies said on Friday.

The agreement concerning Atotech is valued at USD 3.2 billion and is thus a major component of Total’s USD 10-billion divestment programme. Atotech is a plating chemicals business that offers coatings as well as services and equipment for circuit boards. It is also active in semiconductor manufacturing and metal surface finishing, both functional and decorative. The company, which traces its roots to 1889, employs some 4,000 people.

Asset manager Carlyle Group is based out of Washington, D.C., and is active across four business segments: corporate private equity, real assets, global marketing strategies and investment solutions. It holds USD 178 billion in assets around the world.