Lonza has entered into a deal to sell its specialty ingredients business to Bain Capital and Cinven for CHF 4.2 billion (about $4.66 billion).
WHO: Lonza’s Specialty Ingredients business currently has 17 manufacturing sites across its global footprint that produce microbial control solutions for Personal Care and Professional Hygiene products. Lonza’s business also produces specialty chemicals and composites for the electronics, aerospace, food, and agrochemical industries. 2,800 workers are employed by the business.
WHY: The divestment will allow Lonza to focus its efforts on the healthcare industry, and the free cash flows resulting from the sale will allow Lonza to accelerate its strategic priorities.
IN THEIR OWN WORDS: “Bain Capital and Cinven have shown that they understand the value of the experience and expertise of our Specialty Ingredients employees,” Albert M. Baehny, Chairman of Lonza, said in a statement. “They presented the most compelling industrial strategy and vision for the business, they are also keen to prioritize R&D and innovation, as well as to invest in existing facilities to unlock the potential of the business.”
DETAILS:
