Bayer Completes Sale of Its Environmental Science Enterprise – CSRwire.com

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 firms had entered right into a corresponding settlement in March. The circumstances 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 staff of Environmental Science Skilled for his or her a few years of dedication and the related success of Bayer. In Cinven, now we have discovered a powerful new proprietor with a agency dedication to the long-term development potential of the enterprise and to its folks,” mentioned Rodrigo Santos, member of the Board of Administration of Bayer AG and head of the Crop Science Division. “On the identical time, we will think about our core agricultural enterprise and the profitable implementation of our development 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 ready to function as an impartial firm referred to as Envu. The enterprise is a world 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 nations. Almost 900 staff in whole will switch from Bayer to Envu.

“Envu is a world chief in a extremely enticing and important business. We thank Bayer for the belief they’ve positioned in Cinven and plan to construct on the sturdy foundations established by Bayer by considerably investing in it,” mentioned Pontus Pettersson, Accomplice at Cinven. “Cinven is happy to construct an impartial, targeted firm and is properly positioned to proceed to drive innovation and speed up development, together with the supply of digital and data-enabled options, and to increase the product portfolio additional by creating modern and sustainable options for its prospects.”

About Envu

Envu was based in 2022, a brand new firm constructed on years of Bayer expertise, for the only real goal of advancing wholesome environments for everybody, all over the place. Envu provides 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 prospects to provide you with modern options that can work at present and properly into the long run. Envu’s portfolio consists of over 180 trusted and well-known manufacturers. The corporate employs almost 900 folks and operates in additional than 100 nations with 4 international innovation hubs. For extra info, go to the Envu website.

About Bayer

Bayer is a world enterprise with core competencies within the life science fields of well being care and diet. Its services and products are designed to assist folks and planet thrive by supporting efforts to grasp the most important challenges introduced by a rising and growing older international inhabitants. Bayer is dedicated to drive sustainable growth and generate a optimistic impression with its companies On the identical time, the Group goals to extend its incomes energy and create worth by means of innovation and development. The Bayer model stands for belief, reliability and high quality all through the world. In fiscal 2021, the Group employed round 100,000 folks and had gross sales of 44.1 billion euros. R&D bills earlier than particular gadgets amounted to five.3 billion euros. For extra info, go to www.bayer.com.

About Cinven

Cinven is a number one worldwide non-public fairness agency targeted on constructing world-class international firms. Its funds put money into six key sectors: Enterprise Providers, Shopper, Monetary Providers, Healthcare, Industrials and TMT (Expertise, Media and Telecommunications). Cinven has workplaces in London, New York, Frankfurt, Paris, Milan, Madrid, Guernsey and Luxembourg. Cinven takes a accountable strategy in the direction of its portfolio firms, their staff, suppliers, native communities, the atmosphere and society. www.cinven.com

View unique content material here.