Lonza has agreed to sell its Specialty Ingredients business and operations to Bain Capital and Cinven, two private-equity firms, for an enterprise value of CHF 4.2 billion ($4.7 billion).

Lonza’s Specialty Ingredients business provides microbial control services for professional hygiene and personal care products and custom development and manufacturing of specialty chemicals and composites to support the electronics, aerospace, food, and agrochemical industries. It operates across 17 manufacturing sites globally and has approximately 2,800 permanent employees.

The transaction is expected to close in the second half of 2021, subject to customary closing conditions.

Lonza had announced in 2019 a plan to carve out its Specialty Ingredients business. The pending sale of the business positions the company solely in the healthcare industry (biopharmaceuticals, pharmaceuticals, and nutrition/health ingredients).

Source: Lonza