The ink has now dried on what could be called the biggest deal in the pest control industry this year.
On July 11 this year, Envu and FMC Corporation made the announcement that an agreement had been signed for FMC to sell its Global Specialty Solutions business to Envu for a price of US$350 million. This was followed by the more recent announcement on November 1 that both parties had satisfied all necessary conditions and regulatory approvals and the sale had successfully been completed.
“This is a very exciting day for Envu, and we believe for our customers as well,” said Gilles Galliou, Envu CEO. “Now that the deal is closed, we will move quickly to begin integrating the GSS team and exploring ways that we can leverage our collective strengths to deliver more innovation and more value for our customers. We look forward to continuing to collaborate with FMC as a trusted supplier and partner.”
As part of the agreement, FMC will work with Envu through the companies’ transition period and will remain a contracted supplier of key products and actives. This ongoing collaboration will mean a seamless transition for customers and employees.
Since it was acquired by international private equity firm Cinven in 2022, Envu has established its position in the market as an innovative environmental science company. The acquisition of FMC is an opportunity to support its growth in the environmental sciences sector, as FMC’s Global Specialty Solutions business comprises a diverse range of non-crop products such as golf courses, sports stadiums, and importantly, pest control. With Envu providing much-needed resources and capital, pest managers can expect the FMC product range to continue forwards in the years to come.
For FMC, the divestiture aligns with its strategic focus on the global crop protection market. The business will now focus solely on delivering innovation within this sector.
“The successful sale of our GSS business to Envu marks an important milestone for FMC,” said Pierre Brondeau, FMC Chairman and CEO. “This transaction enables us to further sharpen our focus on our core agricultural business while ensuring the GSS business and employees have the right partner in Envu to support their continued growth and success.”
The integration of the two businesses is expected to progress over the coming months. The timings of the integration in each country will depend on the complexity of the local situation. For Australia, the acquisition is significant.
“Envu is thrilled to welcome FMC’s Global Specialty Solutions team to our Australian operations. This acquisition represents a fantastic opportunity for us to further expand our local capabilities, particularly in pest management, turf, and ornamental solutions,” said Rachel Carson, Managing Director of Envu Australia. “With this integration, we’re excited to leverage our combined expertise and resources to provide even more innovative and effective solutions for our customers. We look forward to a smooth transition and the positive impact this collaboration will have on the industries we serve here in Australia.”
