Europe’s largest buyout firm has agreed to purchase Arysta LifeScience Corp. for $2.2 billion.
Permira Funds will make the acquisition through its Industrial Equity Investments Ltd., based in Ireland. The deal must still meet regulatory approval and is expected to be completed in the first quarter of 2008.
Arysta LifeScience, headquartered in Tokyo, Japan, is the world’s 10th largest agrochemical company. The company markets a portfolio of more than 150 products in more than 125 countries with approximately 2,200 employees.
“Our continued success comes from a culture that is relentlessly focused on delivering innovative crop protection solutions that help our customers become more successful,” says Chris Richards, CEO of Arysta LifeScience. “Based on our strong product range and global reach, our employees have driven aggressive global growth through product development and strategic acquisition. Olympus Capital has provided consistent support for our growth over the last five years. We are now excited to look to the future with IEIL, who shares our vision and ambition to further accelerate our growth plans over the coming years.”