CBPE sells UK speciality chemicals manufacturer Minova to Orica for £357m

CBPE backed the £32m MBO of Minova, formerly known as Fosroc Mining, from Burmah Castrol in an MBO in March 2003.

Minova is a specialist in the manufacture of speciality chemicals used in the coal mining, metal mining and tunnelling industries. Minova's products are used for underground strata reinforcement, strata support, ventilation seals and cavity backfill. The company operates globally with 17 manufacturing facilities in ten countries. Major operations are located in the US, Australia, Poland, Germany, Russia, South Africa and China.

Sean Dinnen, partner at CBPE and non-executive director of Minova since the MBO, said, 'We have greatly enjoyed assisting an outstanding management team build a genuine global business of real substance and quality.'

CBPE invests in transactions with a value of between £20m and £150m. The firm has funds under management of €1bn. It focuses on investment in the business support services, consumer products, leisure, specialist industrials, transport and distribution, and healthcare and pharmaceuticals sectors.

Copyright © 2006 AltAssets