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Oct. 20, 2014 Source: Arysta LifeScience news release Arysta LifeScience announced today that Platform Specialty Products has reached a definitive agreement with a company backed by the Permira funds to acquire Arysta LifeScience for approximately $3.51 billion, subject to regulatory approval, working capital and other adjustments. Once the acquisition is complete, Platform Specialty Products will combine Arysta LifeScience with previously acquired companies Agriphar and Chemtura Crop Solutions (the latter of which is still awaiting final governmental approvals). The combined entity will be run as a vertically integrated agricultural chemicals company with sales of approximately US $2.1 billion, the 10th largest in the industry. "Bringing Arysta LifeScience under the Platform umbrella will create a broad agrochemicals offering that is uniquely positioned to provide farmers, globally, with a fulsome suite of products to address their product and geography specific needs," said Daniel H. Leever, Platform's Chief Executive Officer. Current CEO of Arysta LifeScience, Wayne Hewett, will lead the new group. "There are immediate benefits to joining forces with Agriphar and Chemtura," said Hewett. "We will be able to offer customers a full complement of biosolutions, crop protection, and seed treatment products. We also will strengthen our global footprint in key geographic areas such as Western Europe and North America." The transaction is expected to close in the first quarter of 2015. About Arysta LifeScience Arysta LifeScience is one of the world's largest privately held crop protection and life science companies with 2013 revenues of US$1.5 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 that meet the needs of our global partners. More information on the company is available at: www.arystalifescience.com. About Platform Specialty Products Platform Specialty Products is a global producer of high technology specialty chemical products and provider of technical services. Our business involves the manufacture of a broad range of specialty chemicals, which we create by blending raw materials, and the incorporation of these chemicals into multi-step technological processes. These specialty chemicals and processes together encompass the products we sell to our customers in the electronics, metal and plastic plating, graphic arts, and offshore oil production and drilling industries. We refer to our products as "dynamic chemistries" due to their delicate chemical compositions, which are frequently altered during customer use. Our dynamic chemistries are used in a wide variety of attractive niche markets. More information about our business can be found at www.macdermid.com. About Permira Permira is an international private equity firm. The Permira funds, raised from pension funds and other institutions, make long-term investments in companies with the ambition of transforming their performance and driving sustainable growth. Founded in 1985, the firm advises funds with a total committed capital of approximately €25 billion and has made over 200 private equity investments. Permira specialises in five key sectors: Consumer, Financial Services, Healthcare, Industrials and TMT and its portfolio currently comprises over 25 companies. Permira employs over 120 professionals based in Frankfurt, Guernsey, Hong Kong, London, Luxembourg, Madrid, Menlo Park, Milan, New York, Paris, Seoul, Stockholm and Tokyo. For more information visit: www.permira.com. Tweet |
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