Cary, August 16, 2022 – Bayer’s Environmental Science Professional business today announced it will become Envu as a standalone company, contingent on the successful close of Cinven’s acquisition of the business from Bayer*. Pronounced “ehn-VIEW”, the name is derived from “environment” and “vision” and developed with input from both employees and customers around the world.
“As a trusted industry leader, we know that ensuring continued customer success requires strong partnerships and a renewed perspective,” said Gilles Galliou, president of the Environmental Science Professional business at Bayer and future CEO of the new standalone company. “That’s why Envu will be dedicated to bringing customers innovative solutions to help them push their business forward and tackle the toughest challenges our environments face today.”
Envu will work alongside customers to see challenges through their eyes, bringing together diverse points-of-view and a vision beyond chemistry.
“The fact that our new company will be focused solely on environmental science will allow us to solve problems faster, smarter and more efficiently,” said Galliou. “The challenges we solve today will help ensure a healthy future for all is clearly in view,” Galliou continued.
“We have an established track record of bringing effective, safe and sustainable solutions to customers,” said Tiffany Fremder, head of global marketing for Environmental Science. “We will continue this commitment as Envu and expand our focus on innovation to achieve long-standing environmental health and sustainability.”
From now until the divestment transaction officially closes, the organization will remain the Environmental Science Professional business of Bayer. However, the company looks forward to fully launching its new corporate identity upon the successful close, which is on track for later this year. The business will also continue to proudly collaborate with Bayer as a standalone company.
*The transaction between Bayer and Cinven is still in process. The launch of this new company and name is contingent on the deal closing. Until such time, the Environmental Science Professional business continues to be owned by Bayer and will operate as such.
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to help people and planet thrive by supporting efforts to master the major challenges presented by a growing and aging global population. Bayer is committed to drive sustainable development and generate a positive impact with its businesses. At the same time, the Group aims to increase its earning power and create value through innovation and growth. The Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2021, the Group employed around 100,000 people and had sales of 44.1 billion euros. R&D expenses before special items amounted to 5.3 billion euros. For more information, go to www.bayer.com.
Cinven is a leading international private equity firm focused on building world-class global companies. Its funds invest in six key sectors: Business Services, Consumer, Financial Services, Healthcare, Industrials and TMT (Technology, Media and Telecommunications). Cinven has offices in London, New York, Frankfurt, Paris, Milan, Madrid, Guernsey and Luxembourg. Cinven takes a responsible approach towards its portfolio companies, their employees, suppliers, local communities, the environment and society. www.cinven.com
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For questions related to Bayer and the Divestment:
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This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
|Note: Environmental Science Professional operations in the following countries will transition to the new ownership and company name at a later date: Brazil, Chile, Colombia (Latam), Dominican Republic, Guatemala, Philippines, Russia, Ukraine and Vietnam. Stakeholders in these countries will be notified accordingly when ownership transition occurs.|