Valtris Specialty Chemicals, a portfolio company of private equity firm H.I.G. Capital, has acquired specialty chemicals company Akcros Holdings. Financial terms were not disclosed. Akcros is a provider of specialty chemicals used as additives in the production and processing polymers, paints and coatings with operations in Europe and North America. The company has two primary manufacturing sites in Eccles, UK, and New Brunswick, New Jersey, USA, with additional production capacity in Mumbai, India, and Guangzhou, China.

Paul Angus, CEO of Valtris, said Akcros is a highly strategic and complementary acquisition, providing new and multiple avenues for growth. “In addition, Valtris will now be a leading player not only in North America but also in Europe, a major goal of ours,” he said.

Valtris was carved out of Ferro by H.I.G. in December 2014. Akcros is the eleventh acquisition that H.I.G. has completed in the chemicals sector since 2008, and the fourth in the last two years.