CU Chemie UETIKON GmbH, a Lahr, Germany-based Fine Chemical specialist, has received a majority investment of undisclosed amount from Barclays Private Equity (BPE).
Following the close of the transaction, still subject to regulatory approval, BPE, which will have a shareholding of 90% in the spin-off from the Swiss group CPH Chemie + Papier Holding AG (CPHN:SE), will pursue a consistent growth strategy in pharmaceuticals, cosmetics and nutrition industries.
Led by CEO Heinz Sieger, CU UETIKON manufactures Fine Chemicals and Active Pharmaceutical Ingredients. The company, which has been operating from its site in Lahr in the German Black Forest for over 40 years, develops Custom Synthesis of complex multilevel intermediaries and Active Pharmaceutical Ingredients (APIs), focusing on niche therapeutic markets and Fine Chemicals for the nutrition and cosmetics industries, amongst others.
In the first half of 2011, CU UETIKON achieved net sales of around €17m. It has a workforce in excess of 110.