Business Development Asia LLC (\u201cBDA\u201d) is pleased to announce that AXA Private Equity has acquired more than 70% of the shares in CABB GmbH, a German specialty chemicals company.\u00a0 The remaining shares will be held by the company\u2019s management.<\/p>\n
CABB, formerly part of Clariant, is headquartered in Sulzbach\/Taunus, Germany and produces monochloroacetic acid (MCAA)\u00a0and a range of specialty intermediates with application in the PVC, pharmaceutical, agrochemical and personal care industries. \u00a0With expected 2006 revenues of \u20ac140m, CABB is a global leader in the production of MCAA and has a strong presence in Europe, North America and South America, and with the support of AXA Private Equity, CABB will explore partnership opportunities with Asian producers.<\/p>\n
BDA\u00a0and Close Brothers plc acted as financial advisors to AXA, from identification of the opportunity through to its execution. Terms of the transaction were not disclosed.<\/p>\n
The BDA transaction team was led by Andrew Huntley, Managing Director +44 20 7655 3500.<\/p>\n
About AXA Private Equity<\/strong><\/p>\n AXA Private Equity, an AXA Investment Managers company, with offices in Paris, Frankfurt, London, New York and Singapore, is a world leader in private equity players covering the whole range of activities (LBO, expansion, venture, co-investment, mezzanine, primary, early secondary and secondary funds of funds) with an exceptional expertise. AXA Private Equity manages and\/or advises private equity funds with assets in excess of \u20ac10bn for some of the world\u2019s leading investors. With a constant focus on transparency, performance and sustainable profitability, AXA Private Equity is supported by the expertise of its staff and its international experience.<\/p>\n