Successful Transactions with PwC

07/02/2018

PwC Corporate Finance advises Thommen-Furler AG (“TFAG”) on the acquisition of alcosuisse ag (“alcosuisse”) from the Swiss government.

Zurich | On January 31, 2018, the Federal Council decided to sell alcosuisse ag, the former profit centre of the Swiss Alcohol Board and sole importer of ethanol products, to TFAG. PwC acted as lead advisor to TFAG throughout the buy-side process.

With the sale to TFAG, the Swiss government completes another important stage of the partial revision of the Alcohol Act, which started on January 1, 2017 by the transformation of alcosuisse from a profit centre to a limited company. The transaction is expected to be completed in mid-2018. Until the next stage in the revision process of the Act – the liberalisation of the ethanol market on January 1, 2019 – the monopoly for the importation of ethanol will remain unchanged and the buyer is not allowed to generate any profit until then.

For more than 100 years, alcosuisse has been providing the Swiss economy with high-quality ethanol products in over 50 different grades at cost-covering prices. With processing facilities in Delémont (JU) and Schachen (LU) and c. 38 FTEs, alcosuisse supplies over 1’500 Swiss-based customers with ethanol products.

TFAG, headquartered in Rüti bei Büren (BE), is specialised in the distribution of chemicals and lubricants, environmental technology, and the disposal and recycling of industrial and hazardous waste. With c. 250 employees, the medium-sized company generates revenues in excess of CHF 120 Mio. and operates branches in Ziefen (BL) and La-Chaux-de-Fonds (NE).

The PwC team

M&A Lead Advisory
Sascha Beer, Partner
Marco Tremonte, Director, Engagement Leader
Andreas X. Müller, Senior Consultant

Financial Due Diligence
Nico Psarras, Partner
Patrick Amstutz, Director
Vincent Lüscher, Manager
Daniel Lötscher, Consultant

Tax Due Diligence
Marcel Angehrn, Director

Pension Due Diligence
Roger Ehrensberger, Senior Manager
Andreas Schuler, Consultant

Published by

Marco Tremonte

Marco Tremonte

Director, Corporate Finance / M&A
PwC Switzerland
Birchstrasse 160
Postfach, 8050 Zurich
+41 58 792 15 32

Marco Tremonte works with PwC Corporate Finance since 2004 and advises his clients on a broad range of M&A transactions including mergers, sell-side and buy-side mandates. His clients are mainly nationally and internationally operating mid-sized companies with focus on TIS (Trade, Industry and Service). Marco is especially passionate about family-owned companies and succession topics. In his function, Marco is a member of the Family Business Group Switzerland and represents the Swiss Corporate Finance team in the ”PwC European Private Equity Network”.

Marco holds a Ph.D. in Finance from the University of Zurich, is a regular guest speaker at HSG as well as other Universities and attended executive programs at IMD and Kellogg School of Management.