IEIL Closes Acquisition of Arysta LifeScience Corporation
Tokyo 06 March 2008 ― Industrial Equity Investments Limited (“IEIL”), an international investment company located in the Republic of Ireland, announced that it has completed its acquisition of Arysta LifeScience Corporation, from funds advised by Olympus Capital Holdings Asia and its co-investors. The acquisition is the first investment in Japan for IEIL since it was established in 2005. The Permira Funds own the Irish company. The enterprise value is approximately JPY 250bn (US$2.4bn).
“Arysta LifeScience has been one of the fastest growing companies in our sector in the last four years. Permira’s investment is a testament to the transformation of our company under Olympus ownership and to our financial strength,” said Chris Richards, CEO, Arysta LifeScience. “With the support of Permira, we are confident of maintaining and accelerating our growth, both organically and through strategic acquisitions.”
Headquartered in Tokyo, Arysta LifeScience is the world’s tenth largest agrochemical company. The company markets a portfolio of more than 150 active ingredients in more than 125 countries with approximately 2,400 employees. Since its founding in 2001, Arysta LifeScience has built a reputation as one of the most agile, high-performance companies in the global agrochemical industry.
“This transaction is a significant achievement, particularly in the current debt markets when many other leveraged buyout transactions are not reaching completion,” said Alex Emery, principal, Permira Advisers KK. “The support we have received from the banking community is a result of the Arysta LifeScience track record of profitable growth and cash generation, and convincing growth forecasts.”
About Arysta LifeScience Corporation
Headquartered in Tokyo, Japan, Arysta LifeScience is the world’s largest privately held crop protection and life science company with 2007 revenues of JPY136 billion (US$1.2 billion). An entrepreneurial provider of crop protection and life science products in more than 125 countries worldwide, Arysta LifeScience specializes in marketing and distribution of respected crop protection brands and life science products in harmony with the needs of global partners. More information on the company is available at: www.arystalifescience.com.
Established in 2005, IEIL is a private investment company located in the Republic of Ireland.
Permira is a leading international private equity firm. The Permira Funds make long-term investments to transform the performance of businesses, helping management to realise new visions and build stronger and more sustainable organizations.
The firm's teams are based in Frankfurt, Guernsey, London, Luxembourg, Madrid, Milan, New York, Paris, Stockholm, and Tokyo, advising funds with a total committed capital of approximately EUR22 billion (US$30 billion). Since 1985, the Permira Funds have completed over 180 private equity transactions.For more information visit: www.permira.com
About Olympus Capital Holdings Asia
Olympus Capital Holdings Asia is a leading middle market private equity firm specializing in partnering with Asian shareholders and management teams to expand their businesses regionally and globally. Olympus Capital has a network of investment and operating professionals located in offices in Tokyo, Delhi, Hong Kong, Seoul, Shanghai and New York. Since its establishment in 1997, Olympus Capital has invested over $1.2 billion on behalf of funds and co-investors in more than 25 portfolio companies throughout Asia. Olympus Capital, one of the early entrants to the Japan private equity market, completed its first Japanese investments in partnership with a major Japanese bank and a trading company in 2000, and established its Tokyo office soon thereafter in 2001. Target industry sectors include business services, agribusiness, financial services and environmental services. Recent investments include Quatrro BPO Solutions (India) and Kyoto Kimono Yuzen (Japan).
For more information, please contact:
Global Communications Head
Arysta LifeScience North America Corporation