IEIL Buying Arysta LifeScience

Industrial Equity Investments Ltd., an international investment firm based in Ireland, has agreed to acquire Tokyo-based agrochemical company Arysta LifeScience Corp. from Olympus Capital Holdings Asia. No financial terms were disclosed for the deal, which is expected to close in early 2008. IEIL is owned by Permira, which provided all of the acquisition's equity.

Industrial Equity Investments Limited (IEIL), an international investment company located in the Republic of Ireland, today announced it has signed a definitive agreement to acquire Arysta LifeScience Corporation, from funds advised by Olympus Capital Holdings Asia and its co-investors. The acquisition is IEIL's first investment in Japan since it was established in 2005. The Permira Funds own the Irish company. The enterprise value is approximately JPY 250bn (US$2.2bn). Completion of the transaction, which is subject to regulatory review and approvals, is anticipated to occur in first quarter 2008.

Headquartered in Tokyo, Arysta LifeScience is the world's tenth largest agrochemical company. The company markets a portfolio of over 150 products in more than 125 countries with approximately 2,200 employees. Since its founding in 2001, Arysta LifeScience has built a reputation as one of the most agile, high-performance companies in the global agrochemical industry.

Margaret O'Connor, chairperson of IEIL, commented, We are delighted to be acquiring a truly global business headquartered in Japan and look forward to supporting the management in their growth going forward.

Chris Richards, CEO of Arysta LifeScience, said, Our continued success comes from a culture that is relentlessly focused on delivering innovative crop protection solutions that help our customers become more successful. Based on our strong product range and global reach, our employees have driven aggressive global growth through product development and strategic acquisition. Olympus Capital has provided consistent support for our growth over the last five years. We are now excited to look to the future with IEIL, who shares our vision and ambition to further accelerate our growth plans over the coming years.

Olympus Capital, an independent firm that has been in the Asian private equity business for more than 10 years, has entered into more than 10 strategic partnerships throughout the region. The firm completed an initial investment in Arysta LifeScience in 2002, partnering with then existing owners Tomen Corporation (now owned by Toyota Tsusho) and Nichimen Corporation (now part of Sojitz Corporation), who subsequently sold their stakes to the Olympus Group. During this period, Olympus Capital helped Arysta LifeScience to acquire more than JPY50bn (US$450 million) of companies and products around the world.

The Permira Funds provided all the equity for the IEIL's first acquisition in Japan. This investment demonstrates Permira's ability to identify strong investment opportunities in the region following its recent investment in Galaxy Entertainment Group of Hong Kong.

Goldman Sachs, Lehman Brothers and Freshfields Bruckhaus Deringer acted as advisers to Arysta LifeScience and the sellers. JP Morgan, Clifford Chance, PricewaterhouseCoopers and Permira Ireland Limited acted as advisers to IEIL.

About Arysta LifeScience Corporation

Headquartered in Tokyo, Japan, Arysta LifeScience is the world's largest privately held crop protection and life science company with 2006 revenues of JPY124.1 billion (US$1 billion). An entrepreneurial provider of crop protection and life science products in more than 125 countries worldwide, Arysta LifeScience specializes in marketing and distribution of respected crop protection brands and life science products in harmony with the needs of global partners. More information on the company is available at:

About IEIL

Established in 2005, IEIL is a private investment company located in the Republic of Ireland.

About Permira

Permira is a leading international private equity firm. The Permira Funds make long-term investments to transform the performance of businesses, helping management to realise new visions and build stronger and more sustainable organizations.

The firm's teams are based in Frankfurt, Guernsey, London, Luxembourg, Madrid, Milan, New York, Paris, Stockholm, and Tokyo, advising funds with a total committed capital of approximately EUR22 billion (US$30 billion). Since 1985, the Permira Funds have completed over 180 private equity transactions.

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About Olympus Capital Holdings Asia

Olympus Capital Holdings Asia is a leading middle market private equity firm specializing in partnering with Asian shareholders and management teams to expand their businesses regionally and globally. Olympus Capital has a network of investment and operating professionals located in offices in Tokyo, Delhi, Hong Kong, Seoul, Shanghai and New York. Since its establishment in 1997, Olympus Capital has invested over $1.2 billion on behalf of funds and co-investors in more than 25 portfolio companies throughout Asia. Olympus Capital, one of the early entrants to the Japan private equity market, completed its first Japanese investments in partnership with a major Japanese bank and a trading company in 2000, and established its Tokyo office soon thereafter in 2001. Target industry sectors include business services, agribusiness, financial services and environmental services. Recent investments include Quatrro BPO Solutions (India) and Kyoto Kimono Yuzen (Japan).