M&A Deal Summary

Bain Capital Private Equity and Cinven Acquire Arxada

On February 8, 2021, private equity firms Bain Capital Private Equity and Cinven acquired chemicals company Arxada from Lonza for 4.2B CHF

Acquisition Highlights
  • This is Bain Capital Private Equity’s 7th and Cinven’s 7th transaction in the Chemicals sector.
  • This is Bain Capital Private Equity’s 13th and Cinven’s 4th largest (disclosed) transaction.
  • This is Bain Capital Private Equity’s 1st and Cinven’s 2nd transaction in Switzerland.

M&A Deal Summary
Date 2021-02-08
Target Arxada
Sector Chemicals
Buyer(s) Bain Capital Private Equity
Cinven
Sellers(s) Lonza
Deal Type Divestiture
Deal Value 4.2B CHF

Target

Arxada

Basel, Switzerland
Arxada is a provider of specialty chemicals for microbial control solutions, used to eliminate or control harmful and unwanted micro-organisms. Arxada’s products are critical ingredients in disinfectants, preservatives, sanitisers, personal care products, as well as coatings and other industrial uses. Arxada was founded in 1897 and is based in Basel, Switzerland.

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Buyer(S) 2

Buyer

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.

DEAL STATS #
Overall 193 of 236
Sector (Chemicals) 7 of 8
Type (Divestiture) 34 of 37
Country (Switzerland) 1 of 1
Year (2021) 1 of 16
Size (of disclosed) 13 of 72
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-14 Guitar Center

Westlake Village, California, United States

Guitar Center is a retailer of guitars, amplifiers, percussion instruments, keyboards and pro-audio and recording equipment. Guitar Center was formed in 1959 and is headquartered in Westlake Village, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-26 Himadri

Kolkata, India

Himadri is a distiller of coal tar, producing coal tar pitch and other value-added downstream products that are key inputs for core industries, including aluminum, steel, building products, auto tires, consumer goods, and lithium-ion batteries. Himadri was founded in 1987 and is based in Kolkata, India.

Sell -
Buyer

Cinven

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1977
PE ASSETS 39.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Cinven is a private equity firm focused on buyout investments in growing, profitable businesses located throughout Europe and North America. Sectors of interest include business and financial services, healthcare, industrial, retail, leisure, consumer, technology, media, and telecommunications. Cinven looks to invest a minimum of €200 million in companies with minimum enterprise values of €400 million. Cinven does not invest in start-ups or development phase companies. Cinven was established in 1977 and is headquartered in London.

DEAL STATS #
Overall 169 of 184
Sector (Chemicals) 7 of 7
Type (Divestiture) 33 of 35
Country (Switzerland) 2 of 2
Year (2021) 2 of 7
Size (of disclosed) 4 of 62
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-05 Taxwell

Franklin, North Carolina, United States

Taxwell is a provider of tax preparation software to professionals and individuals. The Company provides the tools and resources that tax professionals need to build their businesses and properly file federal, state, and local taxes across the country. Drake Software was founded in 1977 and is based in Franklin, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-30 SYNLAB

Munich, Germany

SYNLAB provides human and veterinary laboratory services. Synlab operates across more than 35 countries on three continents and undertakes more than 500 million clinical tests for more than 50 million patients annually. SYNLAB was founded in 1998 and is based in Munich, Germany.

Sell -

Seller(S) 1

SELLER

Lonza

Basel, Switzerland
Category Company
Founded 1897
Sector Life Science
Employees18,000
Revenue 6.7B CHF (2023)
DESCRIPTION
Lonza plant located in Portsmouth, New Hampshire.
Lonza plant located in Portsmouth, New Hampshire.

Lonza is a global company that focuses on the life sciences sector, offering products and services for the pharmaceutical, biotech, and nutrition markets. Their portfolio spans across biopharmaceutical development and manufacturing, consumer health, nutrition, microbial control solutions, and custom manufacturing of specialty chemicals. Lonza was founded in 1897 and is based in Basel, Switzerland.

DEAL STATS #
Overall 3 of 4
Sector (Chemicals) 1 of 1
Type (Divestiture) 3 of 4
Country (Switzerland) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-01 Sigura

Alpharetta, Georgia, United States

Sigura is a provider of water treatment solutions for residential pool care and industrial water care. The Company has six production facilities in North America, South America, and EMEA, with sales locations globally.

Sell $630M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-05 MAST Platform

Bend, Oregon, United States

The MAST® platform enables the gathering of more frequent samples and collection of real-time data, including product attributes in hours instead of weeks, compared to manual sampling. The average cell culture process can save more than 80 hours of labor generally required for sample collection, handling, and analysis. The MAST® platform is based in Bend, Oregon.

Sell -
Mergr

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