CVC Capital Partners has bought Taminco, the world’s biggest producer of alkylamines and derivatives, from AlpInvest Partners for €800 million ($1.1 billion). The investment has been made through CVC’s European Equity Partners IV fund, which closed in 2005 on €6 billion.
CVC has bought a 75 percent stake while Taminco’s management team will own the other 25 percent.
Created after a carve-out from biotech company UCB in 2003, Taminco manufactures alkylamines and derivatives for the pharmaceutical, agrochemical, animal feed and water treatment industries. The business is headquartered in Belgium with production sites in Germany, the US, Brazil and China. It predicts sales of €600 million for 2007.
Founded in 1999, AlpInvest allocates €16 billion to primary and secondary fund investments and another €4 billion to co-investment opportunities. The firm has offices in Amsterdam, New York and Hong Kong.
CVC has €20.9 billion under management with offices around the globe.