Lubrizol Sells Active Pharmaceutical Ingredient and Intermediate Compounds Business
The Lubrizol Corporation announced that it has agreed to sell its active pharmaceutical ingredient and intermediate compounds business, with facilities in Raubling, Germany and Chennai, India (A&I). The purchasers are Auctus Management GmbH (Auctus), a German private equity firm located in Munich, Germany, and the current management of the active pharmaceutical ingredient business. KeyBanc Capital Markets advised Lubrizol on the transaction.
This is Lubrizol's fifth and last planned divestiture since it announced its intent in July to market non-core businesses with combined revenues of $500 million. A&I has been part of Lubrizol's consumer specialties product line in the Specialty Chemicals segment. A&I management anticipates that 2006 sales revenues will be approximately $30 million U.S. Terms of the sale were not disclosed. A&I develops and produces active pharmaceutical ingredients and advanced intermediates that are marketed to proprietary and generic drug manufacturers worldwide.
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