LONDON - The European private equity firm Permira said on Tuesday that it had agreed to acquire the specialty chemical company CABB International of Germany.
Funds advised by Permira will acquire CABB from the private equity firm Bridgepoint Capital for an undisclosed amount. The transaction is expected to be completed in June and is subject to regulatory approval.
“CABB is perfectly positioned as a leading global supplier of fine chemicals, specialty chemicals and intermediates to a variety of growing global industries including the agrochemicals industry, which we know well,†Torsten Vogt, the co-head of Permira’s industrial team, said in a statement.
CABB, a former subsidiary of the chemical company Clariant, was part of a management buyout in 2005. It was sold to AXA Private Equity, now known as Ardian, in 2007 and Bridgepoint in 2011.
The company, based in Sulzbach, Germany, makes chemicals used in agriculture, pharmaceuticals, cosmetics and other products. It employs about 1,000 people in Germany, Switzerland, Finland, India and China.
CABB had nearly 440 million euros, or about $607.9 million, in sales last year.
