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Business
Novacap Is Moving From Bain To AXA
by Michael McCoy
January 24, 2011
| A version of this story appeared in
Volume 89, Issue 4
AXA Private Equity has agreed to acquire a majority stake in France’s Novacap from Bain Capital in a transaction that values Novacap at about $320 million. Novacap was created in 2003 when Bain purchased some of Rhodia’s intermediate chemical and mining activities. Bain says Novacap has increased sales since then to about $630 million per year. AXA also owns the chemical distributor Unipex and the German intermediates maker CABB.
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