Swiss pharmaceutical company Lonza has, on Feb 9, signed an agreement with private equity bidders Bain Capital and Cinven to divest its Specialty Ingredients business and operations for an enterprise value of CHF4.2 billion ($6.22 billion).

Lonza’s Specialty Ingredients business is a leading provider of microbial control solutions for professional hygiene and personal care products, which operates across 17 manufacturing sites globally.

It also offers the custom development and manufacturing of specialty chemicals and composites to support the electronics, aerospace, food and agrochemical industries.

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Bain Capital and Cinven both have strong experiences in the industrials sector, as well as an established track record of successful investments in portfolio companies.

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The transaction is expected to close in 2H2021.

Bain Capital and Cinven have confirmed that high standards of service delivery and quality for customers will remain a priority following closing.

BofA Securities and UBS are acting as joint financial advisors to Lonza.

Shares in Lonza closed flat at $79.97 on Feb 8.