Private equity and investment advisory firm CVC said it was partnering with industry veteran Rajan Gajaria to invest in contract development and manufacturing organizations (CDMO) and global chemical businesses.

An agri-industry veteran, Gajaria retired from a global agriculture company, Corteva Inc, as its Executive Vice President of Business Platforms, in February 2022. The partnership has been done to expand CVC’s global presence in the CDMO and global chemicals segment, a person familiar with the development said. However, no details were available on the structure of the partnership, the finances involved or the precise segment for investment.

Gajaria has also joined as an independent director on the board of Sajjan India Limited, an investee company of Sona Company Pte Ltd, an affiliate of CVC, the note said. A seasoned industry hand, Gajaria has led crop protection, seed and digital business platforms across diverse roles in leading agrochemical firms including Corteva Agriscience and Dow AgroSciences, a note on the partnership said. Presently, he also serves on the boards of UPL Sustainable Agri Solutions Limited, Moleaer, True Essence Foods, Advanta Seeds and Gowan Group of Companies, it added.

Amit Soni, Partner of CVC Advisers (India) said, the industry veteran’s insights, on environment, health and safety, would be instrumental in driving CVC investments in India, starting with Sajjan.

Sajjan India is a CDMO for large-scale production of Active Ingredients (Agro) and pharma, among other things. The firm has two production sites with a total combined capacity of more than 15,000 TPA, it said.

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