Zeneca Specialties business in a $2.1-billion buyout jointly financed by the investment firms Cinven and Investcorp. The business, to be renamed following completion of the transaction, will be headed by Jeremy Scudamore, the unit’s current chief executive.

Zeneca Specialties businesses include Biocides, Industrial Colours, Resins, Performance & Intermediate Chemicals, Resins, and Stahl leather products. Zeneca announced plans to sell the Specialties business prior to the company’s recent merger with pharmaceutical company Astra AB of Sweden.