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Revealed 8 hours in the past
Submitted by Bayer
LEVERKUSEN, Germany, October 6, 2022 /CSRwire/ – Bayer has accomplished the sale of its Environmental Science Skilled enterprise to the worldwide non-public fairness agency Cinven, after the 2 corporations had entered right into a corresponding settlement in March. The situations for closing the transaction – together with the receipt of regulatory approval – have now been met. The acquisition worth for the enterprise, which generated gross sales of roughly 600 million euros in 2021, quantities to 2.6 billion U.S. {dollars} (2.6 billion euros).
“We thank the workers of Environmental Science Skilled for his or her a few years of dedication and the related success of Bayer. In Cinven, we’ve discovered a powerful new proprietor with a agency dedication to the long-term progress potential of the enterprise and to its individuals,” stated Rodrigo Santos, member of the Board of Administration of Bayer AG and head of the Crop Science Division. “On the similar time, we will think about our core agricultural enterprise and the profitable implementation of our progress technique within the Crop Science Division.” Bayer will use the web proceeds from the transaction to scale back its web monetary debt.
The divested enterprise is about to function as an unbiased firm referred to as Envu. The enterprise is a worldwide chief providing options to regulate pests, illness and weeds in non-agricultural areas equivalent to vector management, skilled pest administration, vegetation administration, forestry, and turf and ornamentals. It’s headquartered in Cary, North Carolina, United States, and is energetic in over 100 international locations. Practically 900 staff in whole will switch from Bayer to Envu.
“Envu is a worldwide chief in a extremely enticing and demanding trade. We thank Bayer for the belief they’ve positioned in Cinven and plan to construct on the robust foundations established by Bayer by considerably investing in it,” stated Pontus Pettersson, Accomplice at Cinven. “Cinven is happy to construct an unbiased, targeted firm and is effectively positioned to proceed to drive innovation and speed up progress, together with the supply of digital and data-enabled options, and to increase the product portfolio additional by creating revolutionary and sustainable options for its clients.”
About Envu
Envu was based in 2022, a brand new firm constructed on years of Bayer expertise, for the only objective of advancing wholesome environments for everybody, all over the place. Envu presents devoted providers in: Skilled Pest Administration, Forestry, Ornamentals, Golf, Industrial Vegetation Administration, Garden & Panorama, Mosquito Administration, and Vary & Pasture. Throughout every of its traces of enterprise, Envu focuses its work in chemistry and past, collaborating with clients to give you revolutionary options that may work right now and effectively into the long run. Envu’s portfolio consists of over 180 trusted and well-known manufacturers. The corporate employs almost 900 individuals and operates in additional than 100 international locations with 4 international innovation hubs. For extra data, go to the Envu website.
About Bayer
Bayer is a worldwide enterprise with core competencies within the life science fields of well being care and vitamin. Its services are designed to assist individuals and planet thrive by supporting efforts to grasp the foremost challenges offered by a rising and ageing international inhabitants. Bayer is dedicated to drive sustainable growth and generate a optimistic affect with its companies On the similar time, the Group goals to extend its incomes energy and create worth by way of innovation and progress. The Bayer model stands for belief, reliability and high quality all through the world. In fiscal 2021, the Group employed round 100,000 individuals and had gross sales of 44.1 billion euros. R&D bills earlier than particular objects amounted to five.3 billion euros. For extra data, go to www.bayer.com.
About Cinven
Cinven is a number one worldwide non-public fairness agency targeted on constructing world-class international corporations. Its funds put money into six key sectors: Enterprise Companies, Shopper, Monetary Companies, Healthcare, Industrials and TMT (Expertise, Media and Telecommunications). Cinven has places of work in London, New York, Frankfurt, Paris, Milan, Madrid, Guernsey and Luxembourg. Cinven takes a accountable method in the direction of its portfolio corporations, their staff, suppliers, native communities, the setting and society. www.cinven.com
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Bayer
Bayer
Bayer: Science For A Higher Life
Bayer is a worldwide enterprise with core competencies within the Life Science fields of well being care and agriculture. Its services are designed to learn individuals and enhance their high quality of life. On the similar time, the Group goals to create worth by way of innovation, progress and excessive incomes energy. Bayer is dedicated to the rules of sustainable growth and to its social and moral obligations as a company citizen. In fiscal 2015, the Group employed round 117,000 individuals and had gross sales of EUR 46.3 billion. Capital expenditures amounted to EUR 2.6 billion, R&D bills to EUR 4.3billion. These figures embody these for the high-tech polymers enterprise, which was floated on the inventory market as an unbiased firm named Covestro on October 6, 2015. For extra data, go to www.bayer.com.
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