Basel (CH) and Los Angeles, CA (USA), 1 November 2018 – Lonza and Platinum Disinterestedness accordingly appear today that Platinum Disinterestedness has entered into a absolute acceding with Lonza to access Lonza’s Baptize Affliction business and operations for USD 630 million. The admittance of the French business in this transaction is still beneath discussion.
With abode in Alpharetta, GA (USA), Baptize Affliction has six accomplishment accessories in key regions, including North America, South America, EMEA and South Africa, with sales locations in all regions globally and with about 1,200 employees. The business is a arch provider of avant-garde baptize assay solutions and a top all-around customer cast in residential basin affliction and key positions in high-growth automated and borough baptize affliction markets. The acceding is accepted to aing in the aboriginal division of 2019, accountable to accepted closing conditions.
“We are putting the Baptize Affliction business in the easily of an accomplished buyer who will advance Baptize Affliction as a stand-alone business while absorption on addition and added growth. We accept that we accept begin the optimal accomplice for the business to accord new perspectives to the all-around sites and its employees,” said Richard Ridinger, CEO of Lonza. “The denial added strengthens our cardinal focus on our three amount pillars – Pharma & Biotech, Customer Bloom and Customer & Assets Aegis – aural the healthcare continuum.”
Lonza already appear in May this year that it had retained an advance coffer to admonish on all cardinal options apropos its Baptize Affliction business as allotment of an alive portfolio administration approach. The cardinal assay was about accepted at Lonza’s Capital Markets Day in September 2018. After a able-bodied assay of options, Lonza absitively now to bankrupt the Baptize Affliction business as allotment of its abiding action to abound sustainably forth the healthcare continuum and to focus all advance initiatives and investments on its amount businesses.
Lonza acquired the Baptize Affliction business as allotment of its accretion of Arch Chemicals in 2011 and developed it as allotment of the Specialty Capacity segment. The business provides offerings for recreational water, as able-bodied as for industrial, municipal, bartering and apparent baptize treatments and has arch positions in several markets worldwide.
Platinum Disinterestedness is a all-around clandestine disinterestedness close with about USD 13 billion of assets beneath administration and a awful specialized focus on business operations. The close has abundant carve-out expertise, with added than 20 years’ acquaintance accepting and operating businesses that accept been allotment of ample accumulated entities.
“We are attractive advanced to alive with Baptize Care’s accomplished administration aggregation to added abound the business and strengthen its different accession in residential basin affliction and automated baptize markets about the world,” said Platinum Disinterestedness Accomplice Jacob Kotzubei. “Lonza’s Baptize Affliction business has amazing amount as a standalone company.”
Platinum Disinterestedness operates anniversary of its portfolio companies apart and will administer this access to the Baptize Affliction business with the ambition of creating long-term, acceptable value. Lonza’s Baptize Affliction business has already been absorption on cast restaging, addition and e-commerce; and this acceding now provides the aggregation the befalling to absolutely focus on added growing its business, avant-garde artefact portfolio and all-around brand in both residential and automated baptize treatments. Baptize Care’s business assemblage arch Christian Wichert and his accomplished administration aggregation will abide to advance the business.
The carve-out and buying alteration action is accepted to be seamless to customers. Platinum Disinterestedness said that ensuring consistency, chain and affection will be a antecedence afterward closing.
Citi is acting as banking adviser and Jenner & Block LLP as acknowledged adviser to Lonza. Gibson, Dunn & Crutcher LLP is acting as acknowledged adviser to Platinum Disinterestedness on the acquisition.
About the Baptize Affliction Business Unit
Water Affliction is one of the world’s arch suppliers of sanitizers and added baptize assay chemicals. Baptize Affliction is organized into two business segments: Residential Baptize offers baptize affliction articles and value-added casework for residential pools and spas and is a all-around baton in all customer channels including Mass Retail and Professional Dealer (Pro Dealer), which includes Dealer Direct, Branded Distribution, and Repack and Clandestine Label (RPL). Industrial, Commercial, Borough and Apparent Baptize (ICMS) offers chemicals, casework and solutions globally that abode bartering pond pools, bubbler water, action water, wastewater, irrigation, apparent baptize and automated applications.
Lonza is one of the world’s arch and most-trusted suppliers to the pharmaceutical, biotech and specialty capacity markets. As an chip solutions provider, Lonza is advocacy its amount conception forth and above the healthcare continuum with a able focus on accommodating healthcare, customer antitoxin healthcare and consumer’s advantageous environment.
Lonza harnesses science and technology to actualize articles that abutment safer and convalescent alive and that enhance the all-embracing affection of life. With the contempo Capsugel acquisition, Lonza now offers articles and casework from the custom development and accomplishment of alive biologic capacity to avant-garde dosage forms for the pharma and customer bloom and diet industries.
Benefiting from its authoritative expertise, Lonza is able to alteration its ability from pharma to hygiene and fast-moving customer appurtenances all the way to coatings and composites and the canning and aegis of agronomical appurtenances and added accustomed resources.
Founded in 1897 in the Swiss Alps, Lonza today is a well-respected all-around aggregation with added than 100 sites and offices and about 14,500 full-time advisers worldwide. The aggregation generated sales of CHF 5.1 billion in 2017 with a CORE EBITDA of CHF 1.3 billion. Added advice can be begin at www.lonza.com.
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a all-around advance close with about USD 13 billion of assets beneath administration and a portfolio of about 40 operating companies that serve barter about the world.
The close is currently advance from Platinum Disinterestedness Capital Partners IV, a USD 6.5 billion all-around buyout fund, and Platinum Disinterestedness Small Cap Fund, a USD 1. 5 billion buyout armamentarium focused on advance opportunities in the lower average market.
Platinum Disinterestedness specializes in mergers, acquisitions and operations – a trademarked action it calls M&A&O® – accepting and operating companies in a ample ambit of business markets, including manufacturing, distribution, busline and logistics, accessories rental, metals services, media and entertainment, technology, telecommunications and added industries. Over the aftermost 23 years, Platinum Disinterestedness has completed added than 200 acquisitions.
Lonza Contact Details
Dirk Oehlers, Head Investor Relations
Lonza Group Ltd
Tel 41 61 316 8540
Dr Kristin Köhler, Senior Manager Investor Relations
Lonza Group Ltd
Tel 41 61 316 8782
Constance Ward, Arch External Communications
Lonza Group Ltd
Tel 41 61 316 8840
Platinum Disinterestedness Contact Details
Dan Whelan, Principal
Tel 1 310 282 9202
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