Permira to exit CABB?
According to unconfirmed reports, private equity firm Permira is considering exiting from its ownership in CABB after seven years and an auction may begin next year. The German-headquarters fine and speciality chemicals producer could raise about $1.2 billion, it is estimated.
Permira, which has about €44 billion in committed capital around the world, originally acquired CABB from Bridgepoint in 2014. Four years later, it bought Evonik Jayhawk Fine Chemicals, adding a US presence to the company.
CABB dates back to 2003 through the reorganisation of Clariant’s acetyls operations and it later acquired for the former SF-Chem at Pratteln, near Basel. It is the world leader in monochloroacetic acid and also custom synthesises active ingredients and intermediates for agrochemicals and other applications.