Azelis Continues Acquisition Spree with Buys in Lebanon, Turkey
Azelis is continuing its recent acquisition spree with agreements to buy two more companies in Lebanon and Turkey.
Mergers & Acquisitions (M&A)
Petronas to Acquire Perstorp for €1.54 Billion
Malaysian petrochemicals giant Petronas Group (PCG) has conditionally agreed to acquire all of Swedish chemical producer Perstorp from Financière Forêt, a European private equity investor belonging to PAI Partners.
Pfizer Buys Biohaven for $11.6 Billion
Major drugmaker Pfizer has agreed to buy US biotech Biohaven Pharmaceutical for around $11.6 billion. Founded in 2013 and based in New Haven, Connecticut, Biohaven specializes in drugs that target neurological diseases and rare disorders.
M&A Activity in the Chemical Distribution Industry
Mergers & acquisitions activity in the chemical distribution industry was high in 2021, but current macro-economic conditions may have a dampening effect on the number of deals that will conclude by the end of this year.
Symeres Boosts US Foothold with Organix Buy
Symeres, a Dutch CDMO and contract research organization, has acquired Organix, a US-based specialized organic chemistry services producer that focuses on lipids. The two firms are highly complementary and the combination unlocks significant strategic value, said Symeres, which generates nearly 50% of its revenues in the US.
Asahi Kasei Medical Buys Bionova Scientific
Asahi Kasei Medical, through a US subsidiary, has agreed to buy biologics CDMO Bionova Scientific for an undisclosed sum. Located in Fremont, California, Bionova provides process development services to biopharmaceutical companies, especially those developing next-generation antibody-based drugs.
Lygos and Flexible Solutions to Merge
North American biochemical companies Lygos and Flexible Solutions International (FSI) have agreed to merge in an all-stock transaction. The move follows a strategic investment made by FSI in Lygos in February 2021.
PPG Sells African Activities to Océinde
US paintmaker PPG has agreed to sell certain business activities in Senegal, Ivory Coast, Cameroon, Gabon and Algeria, to French industrial group Océinde. Financial terms were not disclosed.
Viatris Selling Biosimilars Unit to Biocon for $3 Billion
Viatris, the new US pharma created in the 2020 merger of Mylan and Pfizer’s Upjohn off-patent franchise, is selling its biosimilars portfolio to Biocon Biologics for up to $3.35 billion. Terms of the deal foresee Biocon paying $2 billion upfront, $1 billion in convertible preferred equity and $335 million in additional payments.
Sasol Sells German Wax Unit to Awax
South African energy and chemical company Sasol has sold German subsidiary Sasol Wax to Awax, an Italian specialist in developing, producing and distributing wax products. The transaction excludes the South African Fischer-Tropsch hard wax business, which also includes the part that is managed by Sasol Wax.
AbbVie Expands Neuroscience Portfolio with Syndesi Purchase
US biopharma AbbVie is to take over Belgian biotech Syndesi Therapeutics, in a move that will expand its neuroscience portfolio. Under the agreed terms, AbbVie will pay Syndesi shareholders an upfront sum of $130 million, with potential additional payments of up to $870 million contingent on achieving certain milestones.
Chevron Buys into Renewable Fuels and Carbon Capture Firms
Major US-based multinational energy company Chevron has agreed to buy Renewable Energy Group (REG) in an all-cash transaction valued at $3.15 billion. Both companies’ boards of directors have approved the deal, which is expected to close in the second half of 2022. REG shareholders have yet to give their approval.
Germany’s Merck Closes Exelead Acquisition
Germany’s Merck has completed the acquisition of US biopharmaceutical CDMO Exelead for $780 million in cash following the fulfillment of all closing conditions. The takeover plans were announced in January this year.
Arkema Boosts Adhesives with China Buy
Arkema is buying Shanghai Zhiguan Polymer Materials (PMP), a Chinese company that specializes in reactive hot-melt polyurethane (HMPUR) adhesives for the consumer electronics market. Financial terms of the deal, which is scheduled to close this quarter, were not disclosed.
DuPont Sells Mobility & Materials to Celanese
DuPont has agreed to sell most of its Mobility & Materials (M&M) segment to Celanese for $11 billion on a cash and debt-free basis. The deal – DuPont’s biggest since splitting from DowDuPont – is expected to close around the end of this year, subject to regulatory approvals and customary conditions.
Oqema Buys Slovenia’s Alpkem
German distribution group Oqema has acquired Alpkem, a Slovenia-based firm with its main offices in Kranj. Oqema said the deal strengthens its inorganic product line and circular economy business, as well as its infrastructure in southeast Europe. Financial terms were not disclosed.
Ipsen in Talks to Sell Consumer Healthcare to Mayoly Spindler
French pharma Ipsen has entered into exclusive negotiations for the sale of its global consumer healthcare business to compatriot firm Mayoly Spindler. The move, said Ipsen, is a major step forward in its strategy to sharpen its focus on specialty care.
PPG Acquires Arsonsisi’s Powder Coatings Business
US paints and coatings group PPG has entered into an agreement to buy the powder coatings business of Italian company Arsonsisi, boosting its offering in Europe, the Middle East and Africa. Arsonsisi’s powder coating sales reached about $15 million last year.
Clariant to Sell Scientific Design Stake to SABIC
Clariant has signed definitive agreements to divest its 50% stake in the joint venture that owns Scientific Design Company to its long-term joint venture partner, SABIC. The Saudi group will execute a call option raised in 2015 to acquire the stake in the business bought by Germany’s Süd-Chemie in 2003 prior to its acquisition by Clariant.
Hexion Holdings Completes Epoxy Sale to Westlake
Hexion Holdings has completed the sale of its epoxy-based coatings and composites portfolio to Westlake Chemical for $1.2 billion. The deal comprises the epoxy specialty resins and base epoxy resins and intermediates product lines. Prior to the sale, Hexion had announced it would split into two independent companies.
H.B. Fuller Boosts Adhesives with Apollo Buy
US adhesives maker H.B. Fuller has purchased Apollo, the UK’s largest independent manufacturer of liquid adhesives, coatings and primers for the commercial roofing, industrial and construction markets.
Wacker’s Siltronic Deal with GlobalWafers Off
With Germany’s foreign trade clearance still missing on the deal’s agreed Jan. 31 closing date, Munich-based Wacker Chemie declared its plans to sell its remaining 30.8% stake in silicon wafers manufacturer Siltronic to Taiwan’s GlobalWafers officially dead. For now, at least.
Ineos Styrolution Sells StyLight Business to Ensinger
Ineos Styrolution has sold its StyLight thermoplastic composite materials business to German family-owned firm Ensinger for an undisclosed sum.
SABIC Boosts African Agri-nutrients Presence with ETG Stake
SABIC Agri-Nutrients has agreed to acquire a 49% stake in ETG Inputs Holdco for an enterprise value of $320 million. ETG Inputs Holdco blends and distributes fertilizers, seeds and crop protection products across Africa from its more than 350 distribution centers.
Aceto Consolidates Six Acquisitions
Aceto, a US-based manufacturer of specialty materials for life sciences and advanced technology end markets, has consolidated and integrated six recent acquisitions with an eye to developing its hybrid manufacturing/distribution model to supply high-growth end markets.
Barentz Acquires Assets from Mexico’s Chemcel
Dutch-based global distributor Barentz International, specializing in life science ingredients, has acquired unspecified assets of Chemcel, a distributor of specialty ingredients for the Mexican pharmaceutical and nutrition markets. Financial terms were not disclosed.
OpenGate Buys Chemsolv and Chemisphere
US private equity firm OpenGate Capital has bought two US chemical distributors in the space of a week. The first purchase on Jan. 11 was Chemsolv, a regional distributor of commodity and specialty chemicals headquartered in Roanoke, Virginia. The business was acquired from the Austin family, who continue to hold a stake.
CordenPharma Sale Rumors Take Firm Shape
Rumors that German pharmaceutical producer CordenPharma is up for sale have resurfaced following fresh reports that the company’s owner, International Chemical Investors Group (ICIG), plans to formally solicit bids for the business at the end of January.
Siltronic Sale to GlobalWafers Looks Shaky
GlobalWafers’ planned takeover of Wacker Chemie’s remaining 30.8% stake in silicon wafers manufacturer Siltronic is looking somewhat shaky as the German economics ministry – following a year’s review of the plans – apparently remains unconvinced that the $5.3 billion deal is in the national interest.
Enzymaster Completes Acquisition of Sanming Minhe
German biotechnology company Enzymaster has completed the acquisition of Fujian Sanming Minhe Pharmaceutical Technology Co. (Sanming Minhe). Located in China’s Fujian province, 40% of Sanming Minhe’s capacity will be dedicated to manufacturing products using Enzymaster’s processing technology, increasing Enzymaster’s overall production capacity by 50%.
Perstorp Acquires GEO’s DPMA Business
Swedish speciality chemicals producer Perstorp has acquired GEO Specialty Chemicals’ Di-Methylolpropionic Acid (DMPA) business, a move the company said underscores its commitment to providing sustainable specialty solutions to the resins and coatings segment as well as enhancing its strategic presence in polyurethane and alkyds dispersions for waterborne coatings.
GSK Rejects Unilever Bid for Consumer Health Arm
GlaxoSmithKline said it has received and rejected three bids from consumer products giant Unilever to acquire its consumer drugs arm. The latest offer, worth £50 billion (£41.7 billion in cash and £8.3 billion in Unilever shares), fundamentally undervalues" the business,” the UK pharma said.
Hexion Holding to be Sold to American Securities
The backers of Hexion Holdings have agreed to sell the company to private equity investor American Securities for $30 per share in cash. The transaction is expected to complete in the first half of 2022, following the closing of the sale of its Epoxy business to Westlake Chemical. That deal is still subject to shareholder and regulatory approval.
Ascensus Boosts Pharma Capabilities with Wychem Buy
US-based Ascensus Specialties has bought Wychem, a UK-based manufacturer of fine chemicals for pharmaceutical and specialty applications. Financial terms of the transaction were not disclosed. The buyer said it will continue to support Wychem’s manufacturing facility and offices in the UK.
Novartis May Have Sandoz Buyer on the Hook
Novartis and market watchers alike have been dropping repeated hits that a sale of the Swiss drugs giant’s Sandoz-branded generic drugs arm may be closer than has been hinted up to now. In an interview with German weekly news magazine Wirtschaftswoche last week, CEO Vas Narasimhan said, however, that beyond several requests for information no concrete offers are currently on the table.
Solenis LLC
Aditya Birla Group
Sanofi S.A.
Cabot Corporation
GlaxoSmithKline (GSK) plc
Olon S.p.A.
Biogen Inc.
WE Soda Ltd
Safic-Alcan
BASF SE
Infraserv GmbH & Co. Höchst KG
Eastman Chemical Company
Jazz Pharmaceuticals, plc
Bristol-Myers Squibb
DKSH
Sika AG
Bachem
HSH Chemie GmbH
Royal DSM N.V.
Nordmann-Rassmann GmbH
BCG The Boston Consulting Group GmbH
Ofichem Group
Air Liquide Deutschland GmbH
Siegfried
Americo Chemical Products
Dystar
Ineos
Nouryon
CSL Behring GmbH
Ashland
Roche Group
Alkermes
Evonik Industries AG
Lincoln International
Squire Patton Boggs
Honeywell International Inc.
Adragos Pharma
Clariant International Ltd
ICIG
Agno Pharma
IMCD Group B.V.
A.T. Kearney GmbH
Krahn Chemie
AkzoNobel
LANXESS Deutschland GmbH
Advancy GmbH
Maire Tecnimont SpA
Managm. Consult. Chemicals
Proventis Partners
KPMG