Bain Capital, Cinven buy Lonza unit in $4.67B deal

Published: Feb. 9, 2021 at 2:18 a.m. ET By

Pietro Lombardi

Private equity firms Bain Capital LLC and Cinven Group Ltd. have reached an agreement with Lonza Group AG to buy the Swiss life-sciences company’s specialty ingredients business for an enterprise value of 4.2 billion Swiss francs ($4.67 billion).

The unit, which has 17 manufacturing sites across the world and roughly 2,800 permanent employees, is specialized in microbial control solutions for products in the professional-hygiene and personal-care markets, as well as chemicals used in electronics, aerospace and other industries, the seller said late Monday.

“The sale of the Specialty Ingredients business will allow Lonza to focus on its position as a leading partner to the healthcare industry, and the free cash flows resulting from the sale will allow us to accelerate our strategic priorities,” Lonza Chairman Albert Baehny said.

The deal should be completed in the second part of the year.

https://www.marketwatch.com/story/bain-capital-cinven-buy-lonza-unit-in-467b-deal-2021-02-09