Ten years after carve-out from Bayer, Aurelius seals Briar Chemicals exit to India’s Safex

European asset manager Aurelius has sold agrochemical contract development and manufacturing organisation Briar Chemicals to Indian trade buyer Safex.

UK-based Briar has been part of the Aurelius portfolio since 2012, following a corporate carve-out transaction from Bayer CropScience.

Safex, a crop protection product company, has agreed an €83m buyout of the business.

Aurelius CEO Matthias Täubl said, “During its time in the Aurelius portfolio, the Briar Chemicals brand was successfully established in the global market.

Last year Aurelius, which you could meet at the Italy Private Equity Conference this May, held the €350m final close for its fourth European opportunities fund.

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“Furthermore, our operational experts have unlocked significant value by enhancing transparency in the production process and by implementing continuous improvement programmes at Briar’s manufacturing facility.”

The vehicle, AURELIUS European Opportunities IV, will target corporate carve-outs and operational transformation in the European mid-market.

Aurelius sealed its biggest deal yet in November last year by picking up McKesson UK in a £477m corporate carve-out from US healthcare company McKesson Corporation.

Source: Alt Assets

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