WILMINGTON, Del. – Avecia Specialties has been announced as the new name for the former Zeneca Specialties business following completion of the $2.1 billion buyout from AstraZeneca, jointly financed by Cinven and Investcorp. The change includes the Zeneca Biocides business, now Avecia Biocides.
In recognizing the ownership of the company, a new board structure has been established, including nonexecutive directors from both Cinven and Investcorp. The executive management of the company, however, remains in the hands of the existing management team. Similarly, the management structure for the Avecia Biocides business remains unchanged.