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Bayer Completes Sale of Its Environmental Science Skilled Enterprise to Cinven


Enterprise to proceed operations as an unbiased firm referred to as Envu

LEVERKUSEN, Germany – Bayer has accomplished the sale of its Environmental Science Skilled enterprise to the worldwide personal fairness agency Cinven, after the 2 corporations 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 value 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).

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“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, we’ve discovered a robust 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 similar time, we will consider our core agricultural enterprise and the profitable implementation of our development technique within the Crop Science Division.” Bayer will use the online proceeds from the transaction to scale back its web monetary debt.

The divested enterprise is ready to function as an unbiased firm referred to as Envu. The enterprise is a worldwide chief providing options to manage pests, illness and weeds in non-agricultural areas similar to vector management, skilled pest administration, vegetation administration, forestry, and turf and ornamentals. It’s headquartered in Cary, North Carolina, United States, and is lively in over 100 international locations. Almost 900 workers in complete will switch from Bayer to Envu.

“Envu is a worldwide chief in a extremely engaging 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, Companion at Cinven. “Cinven is worked up to construct an unbiased, centered firm and is effectively 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 progressive 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 gives devoted companies 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 progressive options that may work at the moment and effectively 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 international locations with 4 international innovation hubs. For extra data, go to the Envu web site.

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 folks and planet thrive by supporting efforts to grasp the foremost challenges offered by a rising and getting older international inhabitants. Bayer is dedicated to drive sustainable growth and generate a constructive influence with its companies. On the similar 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 data, go to www.bayer.com.

About Cinven
Cinven is a number one worldwide personal fairness agency centered on constructing world-class international corporations. Its funds spend money on six key sectors: Enterprise Companies, Client, Monetary Companies, Healthcare, Industrials and TMT (Know-how, 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 workers, suppliers, native communities, the surroundings and society. www.cinven.com

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