M&As: Pritzker Private Capital acquires speciality chemicals firm Vertellus; Evonik closes acquisition of US firm’s biodegradable polymers business

Investment firm Pritzker Private Capital (PPC) says it has acquired the Vertellus group of companies, a specialty chemicals manufacturer. PPC is investing alongside John Van Hulle, President/CEO of Vertellus, as well as other members of the Vertellus management team. Van Hulle and existing management will continue to lead the business.

Headquartered in Indianapolis, Ind., Vertellus is a leading provider of specialty chemicals for the healthcare, personal care, food & agriculture, coatings and transportation markets. Founded in 1857, Vertellus manufactures more than 700 products that are used in medical devices, vitamins, health & beauty, crop protection, fuel & lube, and other products. The company serves customers across the globe from 10 manufacturing facilities located in the US, UK, India and China.

“Vertellus is a leading specialty chemicals manufacturer with strong growth prospects and a compelling market opportunity,” said Thomas Chadwick, Principal at Pritzker Private Capital. “We are pleased to partner with John and the talented Vertellus team to continue providing best-in-class products and support to its customers. The company plays an important role in the development and production of in-demand consumer and industrial products, and we look forward to supporting Vertellus on its continued expansion and innovation excellence.”

Headquartered in Indianapolis, The Vertellus group of companies was originally founded in 1857 as a manufacturer of niche specialty products. Today, Vertellus is one of the largest providers of unique specialty chemicals used in diverse applications, processes and market sectors, including agriculture, life sciences, industrial specialties, nutrition, personal care and plastics. With 900+ employees, Vertellus serves customers across the globe from its 10 international manufacturing facilities.

Meanwhile, in other news, German chemicals firm Evonik has closed its previously announced acquisition of the Lactel Absorbable Polymers product line from Durect Corporation. All Durect employees associated with the Lactel business in Birmingham, Alabama, US, accepted the offer to join Evonik in similar roles.

“The acquisition of the Lactel business will strengthen both our innovation growth field Healthcare Solutions and Evonik’s position as a globally leading integrated CDMO for drug delivery solutions,” says Johann-Caspar Gammelin, Head of the Nutrition & Care Division of Evonik.

The Lactel business will complement Evonik’s own Resomer line of polymers, both being among the most preferred brands of standard and custom PLGA polymers. Poly(lactide-co-glycolide) (PLG or PLGA) polymers are widely used as a functional excipient to control the release of parenteral drug products. They are also utilised to control the biodegradation of implantable medical devices across various orthopedic, cardiovascular, wound healing and other applications.

(PRA)

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