Kem One: Monarch and Arini Become New Principal Shareholders

French PVC producer Kem One has signed a framework agreement with several financial investors on a comprehensive debt reduction and further recapitalization.

According to a press release, the agreement provides for a reduction of liabilities by around 80%, or approximately EUR 720 million, as well as the provision of additional liquidity amounting to EUR 100 million. As part of the planned recapitalization, the British investment firms Monarch Alternative Capital and Arini will become new principal shareholders and contribute a combined EUR 30 million. In addition, the current majority owner Apollo Global will provide EUR 40 million, while a further EUR 30 million will come from a new credit facility. As a result, Kem One’s net debt is expected to be reduced to EUR 154 million, while existing bank financing from institutions including Bpifrance, LCL, and CERA will remain in place.

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The company’s management structure will be adapted to reflect the new shareholder composition, with a new board including representatives from Monarch and Arini. Current CEO Vincent Linchet will remain in his position. Subject to regulatory and legal approvals, the transactions are expected to be completed in October 2026. Kem One’s operating business will remain unaffected by the agreement, and no impact on the company’s employees is anticipated.

CEO Linchet stated: “This agreement gives Kem One the opportunity to consistently pursue its strategic priorities: diversifying sales channels, maintaining key investments in safety, environmental protection, and asset reliability, further optimizing operational processes, and continuing our decarbonization efforts. We thank the Apollo-managed funds for their responsible shareholder support since 2022 and look forward to working closely with Monarch Alternative Capital and Arini.”

Based in Lyon, Kem One is one of Europe’s leading PVC manufacturers. The company employs nearly 1,500 people across eight production sites in France and Spain, which together have annual capacities of 660,000 tonnes of chlorine, 730,000 tonnes of caustic soda, and 870,000 tonnes of PVC. The group generates annual revenue of around EUR 1 billion.

More information: www.kemone.com, www.arini.com, www.monarchlp.com

Kem One, Lyon, Frankreich

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