Sector News

Advent International and Wilbur-Elis merge life sciences and specialty chemicals businesses

October 22, 2022
Life sciences

Private equity firm Advent International and agribusiness Wilbur-Ellis have combined their life sciences and specialty chemicals solutions businesses to form a global distribution platform with combined sales of around €3 billion (US$2.9 billion).

Caldic – a global provider of specialty ingredients and chemicals for the life sciences and industrial formulation markets with a major presence in Europe, North America and Latin America – will benefit by increasing its global presence through a merger with Connell, which is a major player in Asia-Pacific.

“Under the ownership of Advent and Wilbur-Ellis, the combined company will benefit from two strong shareholders committed to build a leading global platform offering thorough expertise in specialty ingredients and chemicals solutions and distribution in two high-growth regions: in Asia-Pacific with Connell and in Latin America with Caldic-GTM, following Caldic’s merger with GTM in March 2022,” detail the companies.

By extending Caldic and Connell’s global footprint, the merger will accelerate growth opportunities for both principals and customers and drive further investments into people, technical labs, and sites.

Together, Caldic and Connell will have operations across 43 countries, which include 75 formulation centers and application labs.

In other business developments, DSM reached an agreement in May to sell its Engineering Materials business to Advent International and LANXESS for an Enterprise Value of €3.85 billion (US$3.94 billion).

Advent oversaw the consolidation of Caldic and GTM – a portfolio company owned by Advent – last March, in a move to grow its specialty ingredients and chemicals business. Caldic’s product portfolio includes food ingredients, specialty chemicals and functional solutions for various life sciences and industrial end markets.

Edited by Benjamin Ferrer

Source: foodingredientsfirst.com

comments closed

Related News

April 20, 2024

CureVac and MD Anderson Cancer Center partner to develop new cancer vaccines

Life sciences

CureVac and the University of Texas’s MD Anderson Cancer Center have announced a co-development and licensing agreement to develop novel messenger ribonucleic acid (mRNA)-based cancer vaccines. The strategic collaboration will focus on the development of differentiated cancer vaccine candidates in selected haematological and solid tumour indications with high unmet medical needs.

April 20, 2024

FUJIFILM plans $1.2 billion investment in major US manufacturing facility

Life sciences

FUJIFILM Corporation is planning to invest $1.2 billion to expand the planned FUJIFILM Diosynth Biotechnologies manufacturing facility in Holly Springs, North Carolina, US. This news follows the organisation’s announcement of a $2 billion investment in the facility in March 2021. This additional financial boost totals the investment to over $3.2 billion, FUJIFILM confirmed.

April 20, 2024

Sanofi cuts staff in Belgium as early-stage research dwindles

Life sciences

Sanofi’s global restructuring and downsizing is now fully underway, with layoffs stretching to the company’s Belgian offices. Belgian newspaper De Tijd reports that 67 employees have been laid off at a site in Ghent and 32 jobs are on the chopping block at Sanofi’s Belgium HQ in Diegem.

How can we help you?

We're easy to reach