CABB Group builds unified organisation
German- and Swiss-based CABB Group is to create a new unified organisation called ‘One CABB’. As part of this the Custom Manufacturing and Acetyls business units will be combined. “Both units serve overlapping customer bases while utilising similar technologies in their production,” the firm said.
“Through the change to ‘One CABB’ we will gain speed and efficiency and thus strengthen our position as one of the premier contract development and manufacturing companies,” added CEO Valerie Diele-Braun (pictured).
Against this background, CABB, a CDMO active in crop science and life sciences, is also reviewing further strategic options, including a potential IPO. It had emerged recently that private equity firm Permira is considering exiting from its ownership in CABB after seven years and an auction may begin next year. This could raise about $1.2 billion, it is estimated.
Permira originally acquired CABB from Bridgepoint in 2014. Four years later, it bought Evonik Jayhawk Fine Chemicals, adding a US presence to the company.