TorQuest Partners to sell Pinova Holdings to Symrise for $417 mln
Canadian mid-market private equity firm TorQuest Partners has agreed to sell Pinova Holdings Inc to Symrise AG, a German supplier of fragrances, flavourings, and cosmetic active ingredients. The deal, expected to close in early 2016, has a total value of US$417 million. Brunswick, Georgia-based Pinova is a manufacturer of specialty chemicals from natural and renewable feedstocks. It was carved out of Ashland Inc by TorQuest for US$75 million in 2010. Pinova subsequently acquired LyondellBasell Flavors & Fragrances, now called Renessenz LLC. That deal more than than doubled the scale of Pinova's business, and broadened its product and end-market reach, TorQuest reported.
21 September 2015•3 mins read
