Cinven is considering a potential $4.1bn exit from Envu, the former Bayer environmental science unit it acquired in 2022 for $2.6bn.

The private equity firm has appointed Bank of America and Barclays to lead a strategic review that could result in a formal sale process, according to Bloomberg sources.

The review remains in its early stages, and Cinven may ultimately choose to retain the asset. However, initial buyer interest is expected to be tested in the coming months, with a possible auction to follow.

Headquartered in Cary, North Carolina, Envu delivers pest, weed, and mosquito control products and services to landscaping, facilities management, and public health clients.

The planned exit comes amid rising investor demand for environmental services and specialty chemicals businesses, which benefit from recurring revenue streams and stable demand across commercial and municipal sectors.

Cinven, Bank of America, and Barclays declined to comment on the matter, according to the report.

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