Duff & Advised Axeon on its Sale to Johnson Matthey plc
Axeon, Europe’s largest independent designer and manufacturer of lithium-ion battery systems, was acquired by Johnson Matthey plc, the FTSE 100 international specialty chemicals company, in October 2012. Axeon will be incorporated within the Environmental Technologies division of Johnson Matthey and is expected to complement Johnston Matthey’s preexisting materials science and R&D expertise.
Role of Duff & Phelps
Duff & Phelps was engaged as the exclusive financial advisor to the shareholders of Axeon to provide merger and acquisition advice in connection with the sale of the Company. Duff & Phelps performed extensive pre-marketing diligence to advise the shareholders of Axeon on their strategic options. Duff & Phelps utilized its industry expertise to develop an appropriate positioning strategy and assemble a highly relevant list of potential strategic and financial buyers. Duff & Phelps ultimately executed a marketing process that could maximize the value of the Company while meeting the shareholders’ goals.
Axeon is Europe’s largest independent lithium-ion battery systems supplier, processing over 70 million cells a year and supplying volume production of batteries for global markets. The Company has a market-leading technology for managing lithium-ion batteries, delivering safe, durable performance. Axeon designs and manufactures large-scale high voltage automotive grade battery systems for electric and hybrid electric vehicles, batteries for mobile power products and performance battery packs for the professional cordless power tools and mobile device markets.
About Johnson Matthey
Johnson Matthey is an international specialty chemicals company that was founded almost 200 years ago in London and is a FTSE 100 company. Johnson Matthey operates in three divisions: Environmental Technologies, Precious Metal Products and Fine Chemicals. Axeon is being incorporated within the Environmental Technologies division alongside its existing technologies. Johnson Matthey sees Axeon as complementing its materials science and R&D expertise and as a key platform for expanding in battery materials and automotive technologies.