European private equity firm Cinven is evaluating a potential sale of Envu, the former Bayer environmental science unit it acquired in 2022, according to a report by Bloomberg citing sources familiar with the matter.
The firm has engaged Bank of America and Barclays to conduct a strategic review of the business, which could fetch a valuation of approximately €3.5bn ($4.1bn). A formal sale process could be launched in the coming months, with initial interest expected to be tested ahead of any auction, the sources said.
Deliberations remain at an early stage and no final decision has been made, they added. Cinven may ultimately opt to retain the asset. Representatives for Cinven, BofA, and Barclays have reportedly declined to comment.
Cinven acquired the business from Bayer for $2.6bn including debt and rebranded it as Envu. Headquartered in Cary, North Carolina, Envu provides pest, weed, and mosquito control products and services to clients across the landscaping, facilities, and public health sectors.
The review comes amid growing interest in specialty chemicals and environmental services assets, driven by their recurring revenue profiles and demand resilience across commercial and municipal end-markets.
