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Sion Pritchard, co-owner of PetPlace, talks about…

An agrochemicals contract development and manufacturing organisation which employs about 250 staff and is headquartered in East Anglia has been acquired by an Indian business.

Briar Chemicals, based in Norwich, was formed as a carve-out transaction from Bayer CropScience in 2012. The company operates from a 115-acre well-invested manufacturing site consisting of lab to large scale reactors.

Safex Chemicals India has acquired Briar from the pan-European alternative investment firm AURELIUS Equity Opportunities.

Safex is backed by ChrysCapital, one of India’s largest private equity firms, which owns a significant minority stake in the business.

Briar is Safex's first overseas acquisition and forms part of the company's strategy for global expansion in step with the substantial growth of the worldwide agrochemicals market.

Neeraj Jindal, a director of Safex, has joined the board of Briar Chemicals and will steer the future growth of the company.

SK Chaudhary, founder director of Safex, said: "Acquiring Briar Chemicals will fast-track Safex into becoming a fully integrated company, present in all industry verticals.

"Strong operational synergies and strategic vision will help Safex to become an important player in the global agro chemical industry. This is a very exciting time for our business."

Matthias Täubl, chief executive of AURELIUS Equity Opportunities, added: "Briar is a trusted long-term partner to many of the world 's largest chemical groups, with an impressive heritage.

"Since becoming part of the AURELIUS portfolio, Briar first stabilised and subsequently significantly expanded its position. We thank the Briar team for their efforts and contribution to this success story and wish them continued success as part of Safex’s European business."

Safex was advised on the transaction by Investec (corporate finance), KPMG (financial and tax DD), Bird & Bird (legal), Bodhi Tree (debt adviser), RK & Associates (commercial DD) and Girish Kshirsagar (technical DD).

R Hariharan (agrochemical industry advisor) assisted Safex in the areas of market sizing, regulatory aspects and the competitive landscape.

AURELIUS was advised on the transaction by DC Advisory, Deloitte (financial), Travers Smith (Legal), EY (Tax), NexantECA (commercial), and Birketts (property).

Birketts / Briar Chemicals / Safex Chemicals India /

Laurence Kilgannon, Digital News Editor T: 0844 980 0187 E: laurence.kilgannon@newsco.com

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