3i Sells Lab Chemicals Business

摘要

Private equity firm 3i (London) says it has agreed to sell Panreac (Barcelona), a laboratory chemicals manufacturer, to Illinois Tool Works (ITW; Glenview, IL). 3i, which acquired a 75% stake in Panreac for ?25 million in 2005, says the deal with ITW represents a more than 2x return on its investment. Since acquiring Panreac, 3i says it has consolidated Panreac's leadership position in Spain and pursued an international expansion plan including increasing exports.