Permira Acquires German Chemicals Maker CABB From Bridgepoint

Permira Advisers LLP agreed to buy German manufacturer CABB International from Bridgepoint to tap demand for chemicals used in pesticides, cosmetics and food.

The transaction is expected to be completed in June, the private equity companies said today in a statement, without disclosing financial terms of the deal. The asset is valued at more than $1 billion, people with knowledge of the matter said in March.

Permira seized the opportunity to add Sulzbach, Germany-based CABB to its portfolio, which already includes Arysta LifeScience, a developer of additives to enhance crop growth and combat diseases and bugs. Permira’s prior investments include cosmetic-additive maker Cognis, sold to BASF SE (BAS) for $3.8 billion in 2010.

“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, co-head of Permira’s industrial team, said in the statement.

Rothschild advised London-based Bridgepoint on the sale. Valence Group acted as the adviser for Permira.

To contact the reporter on this story: Andrew Noel in London at anoel@bloomberg.net

To contact the editors responsible for this story: Simon Thiel at sthiel1@bloomberg.net Thomas Mulier

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