Barclays Private Equity acquires Fine Chemical specialist CU UETIKON

Barclays Private Equity (‘BPE’) acquires a majority shareholding of the Fine Chemical specialist CU Chemie UETIKON GmbH (‘CU UETIKON’) based in Lahr, Germany. With a shareholding of 90 percent, BPE will have a controlling interest in the spin-off from the Swiss group CPH Chemie + Papier Holding AG (CPHN:SE). Together with management, BPE will pursue a consistent growth strategy in pharmaceuticals, cosmetics and nutrition industries. The consideration is undisclosed.

 

• Barclays Private Equity acquires 100 percent of CU UETIKON together with management
• Continuation of consistent and successful niche strategy
• Focus on the manufacture of high standard Active Pharmaceutical Ingredients and Fine Chemicals

CU UETIKON is an established manufacturer of Fine Chemicals and Active Pharmaceutical Ingredients and has been operating from its site in Lahr in the German Black Forest for over 40 years. The company develops Custom Synthesis of complex multilevel intermediaries and Active Pharmaceutical Ingredients (APIs), focussing on niche therapeutic markets and Fine Chemicals for the nutrition and cosmetics industries amongst others. CU UETIKON owns one of the most advanced production facilities in the world, which complies with all Good Manufacturing Practice (GMP) industry guidelines, ensuring consistently high quality production processes. Furthermore, CU UETIKON is regularly tested by national and international health authorities, in particular the United States Food and Drug Administration (FDA) for which it has passed every audit to date.

In the first half of 2011, CU UETIKON, with a workforce in excess of 110, achieved net sales of around €17 million. Revenue growth of over 30 percent is forecast for the full financial year (2011) compared to 2010.

“With its technological know-how and its strong reputation, CU UETIKON Lahr is known for being a well-connected player in the industry with high quality standards. Together with the Company’s highly qualified and experienced management team we will concentrate on pressing ahead with development in the pharmaceuticals, cosmetics and nutrition industries in particular”, said Philippe Stüdi, Director at BPE based in Switzerland.

“Our multi-purpose production facility is one of the most technologically advanced in the world,” said Heinz Sieger, CEO of CU UETIKON. “Our aim is to make full use of the production capacity at the Lahr site over the next few years and to work in close cooperation with local and Asian partners to pursue a consistent growth strategy.”

Peter Schildknecht, CEO of CPH Chemie + Papier Holding AG commented: “I am very pleased that we found such an experienced investor to be the future owner. BPE will initiate and carry through the next phase of growth in partnership with CU UETIKON’s management team.”

Philippe Stüdi and Marc Erni, based in Switzerland, led the investment for Barclays Private Equity.