Shearman & Sterling advised Credit Suisse and a large UK investment bank, as Arrangers, Bank of Montreal, as First & Second Lien Administrative Agent, a large UK investment bank, as ABL Administrative Agent, and additional Arrangers, on a $2.021 billion financing for the acquisition of Bayer Environmental Science by Cinven, a carve-out transaction of Bayer AG’s environmental science business. The financing includes a $1.346 billion first lien term loan facility, a $300 million second lien term loan facility, a $225 million revolving credit facility and a $150 million ABL facility.
Based in Cambridge, United Kingdom, Bayer Environmental Science manufactures insecticides and related products for flea control and pest management.
Cinven is a private equity firm specializing in investments in buyouts, secondary, carve-out, growth capital, new market expansion, business roll-outs and industry consolidation. Its funds invest in six key sectors: Business Services, Consumer, Financial Services, Healthcare, Industrials and Technology, Media and Telecommunications (TMT).
The Shearman & Sterling team below was supported by John Chua, Andrew Mavers and Austin Grossfeld.