LEVERKUSEN, Germany–(BUSINESS WIRE)–Bayer and Cinven have entered into a definitive agreement regarding the sale of Bayers Environmental Science Professional business for a purchase price of 2.6 billion U.S. dollars (2.4 billion euros), Bayer announced on Thursday. Rodrigo Santos is President of the CropScience Division and Member of Bayer AG’s Board of Management.
Environmental Science Professional is a global leader in providing environmental solutions to control pests and diseases in non-agricultural areas, such as vector control and professional pest management, vegetation management and turf and ornamentals. The company had around 800 employees in 2021 supporting operations and sales across more than 100 countries. It is headquartered at Cary, North Carolina, USA. Bayer had announced in February 2021 that it would be selling the business.
Cinven, driven by a shared belief of people and purpose will allow the Environmental Science Professional Business to move towards its vision for healthy environments for all. Santos stated that Cinven’s commitment to the long-term growth potential of the business and its employees is what convinced us. The transaction is expected closing in the second half this year, subject only to the satisfaction and fulfillment of customary closing conditions. Its net proceeds will be used for Bayers net financial obligations reduction.
Bayers Environmental Science Professional is a global leader within a highly competitive and critical industry. Pontus Pettersson is Partner and Head Industrial at Cinven. We are grateful to Bayer for their trust. Cinven, a long-standing global investment firm, is well-positioned to continue driving innovation and accelerate growth at Environmental Science Professional. This includes the delivery of data-enabled solutions and digital solutions. It also makes the business more responsive to the needs of its customers and markets.
BofA Securities was Bayer’s financial advisor. Hengeler Mueller was Bayer’s legal advisor.
Bayer
Bayer is an international enterprise with core competencies within the life science fields health care and nutrition. Bayer’s products and services help people and planet thrive, by helping to overcome the major challenges posed by an aging and growing global population. Bayer is determined to drive sustainable development and make a positive difference through its businesses. Bayer aims to grow its earning power, create value through innovation and growth. Bayer is known for its trustworthiness, reliability, and high quality all over the world. The Group employed approximately 100,000 people in fiscal 2021 and had sales of 44.1 million euros. R&D costs before special items were 5.3 billion Euros. For more information, please visit www.bayer.com.
About Cinven
Cinven is an international private equity firm that focuses on building global companies of excellence. Its funds invest across six key sectors: Consumer, Financial Services, Healthcare, Industrials, and TMT (Technology, Media and Telecommunications). Cinven has offices located in London, New York and Frankfurt as well as Paris, Milan Milan, Madrid, Guernsey, Luxembourg, Guernsey, Guernsey, Guernsey, Guernsey, Paris, Frankfurt, Paris, Frankfurt, Paris, Milan and Madrid. Cinven is responsible for its portfolio companies, employees, suppliers, communities, the environment, and society. www.cinven.com
tia (2022–0037E)
Forward-Looking Statements
This release could contain forward-looking statements that are based on Bayer management’s current assumptions and forecasts. There are many unknown and potential risks and uncertainties that could cause material differences between the future results, financial position, or performance of the company, and the estimates made here. These factors include those discussed on Bayers public reports, which can be accessed at the Bayer website. www.bayer.com. The company disclaims any liability for the updating of these forward-looking statements, or conforming to them. They can be used to help you plan for future events and developments.
