Speciality Chemicals Magazine JAN / FEB 2022 | Page 15

NEWS

UK buy for Ascensus

Ascensus Specialties , a provider of speciality materials for life sciences and advanced technology , has followed up on previous acquisitions by buying fine chemicals manufacturer Wychem from private equity firm Aurelius , which had acquired it in 2016 . The company employs 25 people at its site in the UK . Terms were not disclosed , but Aurelius said that the transaction “ resulted in a money-over-money multiple of 10.6x ”. It added ; Backed by a comprehensive repositioning including investments in site expansion and capacity improvements carried out by Aurelius , Wychem is now in excellent shape generating a high margin and strong cash flow .” Wychem , makes starting materials and multi-step intermediates for the synthesis of APIs and other advanced technology applications using its own process technology . It specialises in aromatic compounds , making over 1,000 , and halogenation , including including direct bromination , direct iodination , and diazonium and Sandmeyer reactions . Ascencus claims to be a global leader in borohydride , borane and speciality alcoholate reagents , CVD / ALD precursors , and high-purity APIs and cGMP materials . In recent years , it has acquired both Strem Chemicals and Callery Chemicals , bringing it facilities in Pennsylvania , and Massachusetts to add to its original one in Washington State .

One done , one denied

Draslovka , a Czech specialist in cyanide chemistry , has completed the acquisition of Chemours ’ s Mining Solutions business for $ 521 million . However , the South African competition authorities have blocked its other proposed acquisition , of Sasol ’ s sodium cyanide business . Acquiring the Chemours business makes Draslovka the world ’ s largest producer of solid sodium cyanide and a major player in hydrogen cyanide-based speciality chemicals , with operations in Europe , the Americas and Australasia . Its products include fumigants and biocides for applications in the mining , agriculture and diversified industrials sectors . Draslovka said that it plans to continue Mining Solutions ’ growth trajectory “ with this enlarged global platform supporting further strategic M & A as well as organic growth ”. It sees strong continued demand growth for next-generation products , such as EDN , an ozone-friendly alternative to methyl bromide . The South Africa ’ s Competition Commission ’ s decision to prohibit the transaction with Sasol was , according to Sasol , based on pricing effects it had raised and dealt with at an earlier stage . Both companies , it said , had engaged with the commission throughout and the decision “ was therefore unexpected ”. “ Furthermore , the parties are of the view that the Commission ’ s decision does not take the full circumstances and the interests of stakeholders and customers properly into account ”, Sasol added .

IMCD acquires on three continents

Distributor IMCD has agreed to acquire Polychem , a Vienna-based supplier of raw materials and additives to speciality chemical manufacturers in Austria and Southeast Europe , notably in coatings and construction . Terms were not disclosed but it is known that Polychem had sales of about € 25 million in 2020 . The deal should close in Q1 , subject to regulatory review . Via its local subsidiary , IMCD has also agreed to acquire RPL Trading in Australia and RPL Trading New Zealand in a deal that should close within January . RPL is active in home care and water treatment and had sales of about € 15 million in the fiscal year to June 2021 , employing 15 people . Earlier IMCD had acquired 70 % of Megasetia Agung Kimia , which claims to be Indonesia ’ s leading distributor of speciality ingredients into the pharmaceuticals industry . It is also active in the personal care , home care , animal health and industrial markets . IMCD will acquire the rest in 2025 . Megasetia employs about 160 people at three laboratories , six offices and six warehouses . Sales were about € 60 million in 2020 .
Signing the deal to buy Polychem
JAN / FEB 2022