India-based chemical firm Artek Surfin has acquired a 100% stake in US additives supplier Galata Chemicals from joint owner Aterian Investment Partners. Galata Chemicals is a supplier of plastic additives with a comprehensive portfolio of organotin heat stabilisers, mixed metal heat stabilisers, epoxidized soybean oil, bio-based plasticisers, organotin catalysts, and polymer modifiers. The purchase price of the deal first announced in February was not disclosed.

“Over the past four years, Aterian and Artek have successfully partnered with the Galata Chemicals organization to build a leader in PVC additives with a global footprint and an expanded portfolio of innovative products,” said Steven McKeown, President/COO of Galata Chemicals. “We are thankful for Aterian’s significant contribution to the turnaround and growth of Galata Chemicals and look forward to continue to partner with Artek as we enter the next phase of our growth strategy.”

Artek Surfin Chemicals and its group company Sterling Auxiliaries are one of the largest speciality chemical companies in India, focusing on surfactants, alkyl alkanol amines, textile chemicals, metal finishing and other specialty chemical sectors. Artek has substantial experience developing and operating chemical plants and distributing and marketing speciality chemical products internationally.

Aterian Investment Partners is an operationally-focused middle market private equity firm focused on investing in businesses that are financially or operationally challenged, yet strategically viable with well-defined reasons to exist.