Kirkland & Ellis advised Arxada, a global specialty chemicals business owned by private equity funds Bain Capital and Cinven, on its combination with Troy Corporation, a global leader in microbial control solutions and performance additives. This agreement represents the first strategic deal by Arxada, formerly known as Lonza Specialty Ingredients or LSI, since the purchase by Bain Capital and Cinven from Lonza Group AG in July 2021. The partnership represents the next step in Arxada’s strategy to strengthen its offering and enhance the capabilities of its Microbial Control Solutions (‘MCS’) business. The transaction is subject to customary approvals. Financial details of the deal have not been disclosed.
The Kirkland team was led by corporate partners Laura Sullivan, Adrian Maguire, Jacob Traff and Eduardo Leal, and tax partners Mike Carew, Polina Liberman and Mike Conroy.