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Bayer’s Environmental Science Professional business becomes Envu following sale with Cinven

By |  October 5, 2022 0 Comments

Bayer said the company completed the sale of its Environmental Science Professional business to Cinven, an international private equity firm. The new entity is Envu.

Bayer first announced its intention to divest and sell its Environmental Science Professional business, which includes vector control, professional pest management, industrial vegetation management, forestry and turf and ornamentals solutions, in February 2021.

The company announced Cinven would buy this portfolio for $2.6 billion USD in March and in August, Bayer announced the Environmental Science Professional portfolio would rebrand as a standalone company named Envu.

“We thank the employees of Environmental Science Professional for their many years of commitment and the associated success of Bayer. In Cinven, we have found a strong new owner with a firm commitment to the long-term growth potential of the business and to its people,” said Rodrigo Santos, member of the board of management of Bayer AG and head of the crop science division. “At the same time, we can concentrate on our core agricultural business and the successful implementation of our growth strategy in the Crop Science Division.” Bayer will use the net proceeds from the transaction to reduce its net financial debt.

Envu will be headquartered in Cary, N.C., and is active in more than 100 countries, according to the company. Nearly 900 employees in total will transfer from Bayer to Envu.

“Envu is a global leader in a highly attractive and critical industry. We thank Bayer for the trust they have placed in Cinven and plan to build on the strong foundations established by Bayer by significantly investing in it,” said Pontus Pettersson, partner at Cinven. “Cinven is excited to build an independent, focused company and is well positioned to continue to drive innovation and accelerate growth, including the delivery of digital and data-enabled solutions, and to extend the product portfolio further by creating innovative and sustainable solutions for its customers.”

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