M&As: Vertellus to acquire IM Chemicals to expand specialty solutions; Mitsubishi Chemical acquiring Nakai Industrial

US speciality solutions firm Vertellus says it has signed a definitive agreement to acquire ESIM Chemicals’ intermediates and specialties division (IM Chemicals), a provider of specialty chemical products serving the pharmaceutical, coatings, and fuel & lubricant markets. The transaction is subject to customary regulatory approvals.

Founded in 1857, Vertellus is a leading provider of specialty products for the healthcare, personal care, food & agriculture, coatings, and transportation markets. The company manufactures more than 700 products that are used in medical devices, vitamins, health & beauty applications, crop protection, and additives for fuel & lube applications. Vertellus serves customers across the globe from ten manufacturing facilities located in the US, UK, India, and China. Indianapolis-based Vertellus is owned by Pritzker Private Capital and management.

IM Chemicals is a producer of specialty anhydrides products used across a diverse group of end markets including coatings, pigments, construction and pharmaceutical. IM Chemicals operates a production site in Linz, Austria with more than 150 employees.

“This acquisition is directly in line with Vertellus’ strategy to become a leading global provider of specialty chemicals and solutions through both internal growth and acquisitions of complimentary customer focused businesses. We are excited to welcome the IM Chemicals team to the Vertellus family”, said John Van Hulle, CEO of Vertellus. Jim Elliott, Vice President and General Manager of Vertellus’ Anhydrides & Specialties business, said “IM Chemicals is a perfect fit with Vertellus. The acquisition enhances our ability to meet the needs of our global customer base for specialized products and solutions, adding additional production capacities in Europe and expanding our product offerings into new markets.”

Thomas Chadwick, Principal at Pritzker Private Capital, added “The acquisition of IM Chemicals will expand Vertellus’ capabilities to deliver innovative specialty products and solutions to its customers. IM Chemicals is a strong fit with Vertellus’ strategy of using add-on acquisitions to accelerate growth in key markets, including health and beauty, coatings, specialty lubricants, as well as select food and crop protection markets.”

In other news, Mitsubishi Chemical Corporation has acquired all the shares of Nakai Industrial Co., a film coating manufacturer, and converted the company into a consolidated subsidiary, via a buyout fund to which J-STAR Co. provides investment-related services.

Nakai Industrial is a comprehensive coating manufacturer that has built up a track record by leveraging the dry and wet film coating technologies, and composite technologies, which are a combination of the aforementioned technologies, cultivated during its long history. Nakai Industrial deploys businesses that serve a wide range of markets, from transfer foils to industrial-use specialty foils. The company has expertise in providing accurate solutions that address the diverse demands it receives from customers, and has earned high praise for its high value-added products which are developed with customers.

MCC currently manufactures and sells polyester films at five sites globally (Japan, China, Indonesia, the US and Germany). In addition, MCC is also deploying a polyester film processing (coating) business mainly for optical applications, including smartphones and displays. In recent years, the performance required of films is becoming more sophisticated. MCC decided that it could build a system that can quickly respond to the sophisticated demands of a wide range of customers through synergies with the technology, knowhow, human resources, and processing facilities possessed by Nakai Industrial. Accordingly, MCC made the decision to acquire all the shares of Nakai Industrial.

MCC is implementing a growth strategy, including adding a new line in Indonesia, for the purpose of addressing brisk demand for its high performance polyester films, which are mainly used in optical applications and telecommunication devices.

MCC adds that it will be able to accelerate its undertakings by expanding its processing technologies through this recent acquisition of shares in Nakai Industrial. As a leading company in polyester film, MCC aims to continue to aggressively develop this business going forward.

(PRA)

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