[ad_1]
Private equity firms Bain Capital LLC and Cinven Group Ltd. have reached an agreement with Lonza Group AG to purchase the specialty ingredients business of the Swiss life science company for an enterprise value of 4.2 billion Swiss francs ($ 4.67 billion).
The unit, which has 17 manufacturing sites around the world and approximately 2,800 permanent employees, specializes in microbial control solutions for products in the professional hygiene and personal care markets, as well as in chemicals used. in electronics, aerospace and other industries, the seller said Monday night.
“The sale of the Specialty Ingredients business will allow Lonza to focus on its position as a leading healthcare partner, and the free cash flow resulting from the sale will allow us to accelerate our strategic priorities,” said Albert Baehny, president of Lonza.
The operation should be finalized in the second part of the year.
Write to Pietro Lombardi at [email protected]; @ pietrolombard10
Source link
