Cinven Sells Minority Stake in Envu to GIC

LONDON — Cinven, announced it has agreed to sell a strategic minority stake in Envu to GIC. Cinven will remain the majority investor in the company. Financial details of the transaction were not disclosed.

Envu serves a diverse global customer base across more than 100 countries, and is headquartered in Cary, North Carolina. The company was created by Cinven in 2022 through the carve-out from Bayer of its environmental science professional business. Since then, Cinven has worked closely with management to drive strong earnings growth, notwithstanding a challenging macroeconomic backdrop, including through:

• Executing a complex carve-out: Cinven executed a complex carve-out to establish an independent business with its own corporate identity and brand, standing up supply chain, IT and other enabling functions, also with the support of its Portfolio team.
• Significantly strengthening the organization: More than 200 new hires have been made since the carve-out, including eight new senior leadership members. The Company’s systems and processes have also been upgraded.
• Accelerating organic growth: Leveraging its differentiated position, Envu has implemented a series of commercial best practices and executed more than 15 in-licensing deals to deliver strong organic growth.
• Buy-and-build: The value-accretive acquisitions of FMC GSS and In2Care have been completed, together with the Actellic portfolio expansion, broadening Envu’s solutions portfolio and footprint.
• Operational improvements and organizational best practices: A number of initiatives have been implemented, driving profitability uplift, diversifying Envu’s supply chain, and delivering sustainability best practices.

Cinven and GIC are delighted to partner with Envu’s industry-leading management team for the next phase of the Company’s development and are excited by the future value creation opportunity to capitalize on further organic revenue growth, enhanced profitability, and strategic M&A opportunities.

“We have been proud to support Envu’s transformation into a leading independent global environmental science platform,” Pontus Pettersson, partner and head of industrials at Cinven said. “We are excited to continue our ownership alongside our valued partner, GIC, working together to support the Company’s next phase of growth and long term value creation. We believe Envu is well positioned to build on its momentum and further strengthen its leadership in the sector.”

Gilles Galliou, CEO of Envu, said the company is delighted to welcome GIC as an investor in the company.

“I would like to thank Cinven for its steadfast support and strategic guidance, which have been instrumental in driving our growth and success to date,” Galliou said. “Together with GIC and Cinven, we look forward to accelerating our innovation and delivering even greater value to our customers, employees and communities around the world.”

Choo Yong Cheen, chief investment officer of private equity at GIC, said GIC shares Cinven and the management team’s long-term vision and look forward to partnering with them to support the continued growth of Envu.

The transaction is subject to customary regulatory approvals.