Global private equity investor Advent International (Advent), and Wilbur-Ellis, one of the largest family-owned companies in the world, are to merge their life sciences and specialty chemicals solutions businesses, Caldic BV (Caldic) and Connell.
Global private equity investor Advent International (Advent), and Wilbur-Ellis, one of the largest family-owned companies in the world, are to merge their life sciences and specialty chemicals solutions businesses, Caldic BV (Caldic) and Connell.
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 one of the major players in Asia-Pacific.
Together, Caldic and Connell will have more than 3,800 employees across 43 countries, which provide solutions to over 35,000 customers by leveraging 75 formulation centres and application labs and deep application know-how. The combination will generate sales of about €3 billion.
Terms of the transaction, which is expected to close in the first quarter of 2023 subject to customary conditions and regulatory approvals, have not been disclosed.
Wilbur-Ellis and Connell were advised in this transaction by Rabobank and Natrium Capital, joint financial advisors.
