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Advent International and Wilbur-Elis merge their life sciences and specialty chemicals businesses

October 14, 2022 — Private equity firm Advent International and agribusiness Wilbur-Ellis have combined their life science solutions and specialty chemicals businesses to form a global distribution platform with combined sales of approximately 3 billion euros ($2.9 billion).

Caldic – a global supplier of specialty ingredients and chemicals to the life science and industrial formulation markets with a major presence in Europe, North America and Latin America – will benefit from an increase in its global presence through a merger with Connell, which is a major player in Asia-Pacific.

“Owned by Advent and Wilbur-Ellis, the combined company will benefit from two strong shareholders committed to building a leading global platform offering deep expertise in specialty ingredients and chemical solutions and distribution in two high-growth regions: in Asia-Pacific with Connell and in Latin America with Caldic-GTM, following the merger of Caldic with GTM in March 2022”, detail the companies.

By expanding the global footprint of Caldic and Connell, the merger will accelerate growth opportunities for OEMs and customers and drive new investments in personnel, technical labs and sites.

Together, Caldic and Connell will have operations in 43 countries, which include 75 formulation centers and application laboratories.

In other business developments, DSM reached an agreement in May to sell its Engineering Materials business to Advent International and LANXESS for an enterprise value of 3.85 billion euros ($3.94 billion).

Advent oversaw the consolidation of Caldic and GTM – a portfolio company owned by Advent – ​​last March, in an effort to expand its specialty ingredients and chemicals businesses. Caldic’s product portfolio includes food ingredients, specialty chemicals and functional solutions for various life science and industrial end markets.

Edited by Benjamin Ferrer

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