BRUSSELS (dpa-AFX) - Bain Capital Private Equity and Cinven have entered into definitive agreements to acquire Lonza Specialty Ingredients or LSI, a division of Lonza AG, for a total enterprise value of CHF 4.2 billion. The deal is expected to close in the second half of fiscal 2021, subject to customary closing conditions.
The Basel, Switzerland-based LSI provides specialty chemicals for microbial control solutions, used to eliminate or control harmful and unwanted micro-organisms.
Bain Capital Private Equity and Cinven intend to collaborate closely with Lonza AG going forward, notably at the Visp site, as well as with employee representative bodies in Switzerland and across the group, and to become the employer of choice in this sector.
David Danon, Managing Director at Bain Cinven Capital, said, 'LSI has multiple attractive growth opportunities as the leading global player in the growing market for microbial control. Our strategy is to reinforce the company's market position, to accelerate growth through further investment in R&D and innovation, and to use LSI as a platform for further industry consolidation, in line with Bain Capital's and Cinven's strategies in other sectors.'
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