Leverkusen, Oct 5, 2022 – Bayer has completed the sale of its Environmental Science Qualified business enterprise to the global non-public fairness business Cinven, just after the two corporations experienced entered into a corresponding arrangement in March. The conditions for closing the transaction – together with the receipt of regulatory approval – have now been achieved. The order price tag for the business enterprise, which produced gross sales of somewhere around 600 million euros in 2021, quantities to 2.6 billion U.S. pounds (2.6 billion euros).
“We thank the staff members of Environmental Science Experienced for their numerous many years of determination and the linked results of Bayer. In Cinven, we have identified a sturdy new operator with a organization determination to the extended-term progress prospective of the business and to its men and women,” said Rodrigo Santos, member of the Board of Management of Bayer AG and head of the Crop Science Division. “At the identical time, we can concentrate on our core agricultural business and the productive implementation of our development approach in the Crop Science Division.” Bayer will use the internet proceeds from the transaction to lessen its web money debt.
The divested company is established to run as an unbiased enterprise referred to as Envu. The business enterprise is a world-wide leader supplying options to regulate pests, disease and weeds in non-agricultural locations this sort of as vector manage, qualified pest administration, vegetation management, forestry, and turf and ornamentals. It is headquartered in Cary, North Carolina, United States, and is lively in above 100 nations. Practically 900 staff in full will transfer from Bayer to Envu.
“Envu is a world wide chief in a highly appealing and essential market. We thank Bayer for the rely on they have positioned in Cinven and prepare to create on the solid foundations proven by Bayer by drastically investing in it,” said Pontus Pettersson, Partner at Cinven. “Cinven is thrilled to build an unbiased, targeted organization and is effectively positioned to carry on to generate innovation and speed up progress, which include the shipping of digital and knowledge-enabled methods, and to prolong the item portfolio more by making modern and sustainable alternatives for its consumers.”
Envu was started in 2022, a new firm crafted on a long time of Bayer practical experience, for the sole intent of advancing wholesome environments for everyone, everywhere you go. Envu offers devoted services in: Specialist Pest Administration, Forestry, Ornamentals, Golf, Industrial Vegetation Administration, Garden & Landscape, Mosquito Management, and Array & Pasture. Across each individual of its lines of company, Envu focuses its perform in chemistry and outside of, collaborating with clients to occur up with revolutionary remedies that will operate nowadays and effectively into the potential. Envu’s portfolio is composed of about a hundred and eighty trustworthy and very well-regarded brands. The business employs almost 900 individuals and operates in extra than 100 countries with 4 world wide innovation hubs. For added info, stop by the Envu web page.
Bayer is a world wide enterprise with main competencies in the daily life science fields of wellness care and diet. Its items and services are made to help individuals and planet thrive by supporting initiatives to master the big issues introduced by a developing and getting older world wide inhabitants. Bayer is dedicated to generate sustainable growth and create a constructive impact with its businesses At the exact time, the Team aims to boost its earning electrical power and build benefit as a result of innovation and progress. The Bayer brand stands for have faith in, reliability and high-quality all over the environment. In fiscal 2021, the Group used close to one hundred,000 people today and had profits of 44.1 billion euros. R&D fees prior to distinctive products amounted to five.3 billion euros. For more data, go to www.bayer.com.
Cinven is a major intercontinental non-public equity organization targeted on making entire world-course world providers. Its money commit in six crucial sectors: Enterprise Expert services, Shopper, Money Services, Healthcare, Industrials and TMT (Engineering, Media and Telecommunications). Cinven has places of work in London, New York, Frankfurt, Paris, Milan, Madrid, Guernsey and Luxembourg. Cinven can take a accountable approach in direction of its portfolio companies, their workers, suppliers, local communities, the ecosystem and culture. www.cinven.com
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Ahead-On the lookout Statements
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