Mergers & Acquisitions (M&A)

Röhm Seals Functional Forms Deal with SABIC

German PMMA specialist Röhm has signed a final agreement to acquire SABIC’s Functional form business, which makes high-end polycarbonate film and sheet.

Chemanol Acquires Stakes in Saudi Chemical Companies

Methanol Chemicals – known as Chemanol – a Saudi Arabian producer of methanol and derivatives, has signed agreements to acquire controlling stakes in two compatriot chemical companies.

Brenntag Buys Chinese Specialties Distributor Saifu

Brenntag is to acquire Chinese distributor Shanghai Saifu Chemical Development for an undisclosed sum. The transaction is expected to close later this year.

Novo Nordisk in Talks to Take Majority Stake in Biocorp

Danish drugmaker Novo Nordisk is in exclusive talks to take a controlling stake in Biocorp, a French company specializing in developing and producing delivery systems and medical devices, for about €154 million.

Chemours Sells Glycolic Acid Business to PureTech Scientific

Chemours has agreed to sell its glycolic acid business to PureTech Scientific for $137 million cash. The transaction is expected to close by the third quarter of this year, subject to regulatory approval and other usual conditions.

Azelis Acquires Dutch Distributor Sirius

Azelis continues its acquisition spree, this time adding Dutch distributor Sirius International to its stable. Sirius said it will operate as part of Azelis as of Jun. 1. Financial terms of the transaction were not disclosed.

Bankrupt Purdue Pharma Cleared to Sell Consumer Unit

Privately held US drugmaker Purdue Pharma has received permission from a US bankruptcy court to sell its consumer health business, Avrio Health, for $397 million to a subsidiary of Arcadia Consumer Healthcare.

Arkema Boosts Battery Offering with Polytec PT Buy

Arkema is acquiring Polytec PT, a German company specializing in developing and manufacturing specialty adhesives and thermal interface materials for the electronic, electrical and automotive industries. The transaction is expected to close during Q2 2023.

Chemical Distributors Can Be Successful Through Change

H.B. Fuller Acquires UK’s Beardow Adams

US adhesives major H.B. Fuller has acquired Beardow Adams, a UK-based family-owned industrial adhesives manufacturer with capacities in Europe and the US, with a global distribution network and customers in more than 70 countries. Neither terms nor the cost of the purchase have been disclosed.

Sweden’s Sobi Agrees Merger with CTI BioPharma

Swedish Orphan Biovitrum (Sobi) has agreed a merger with CTI BioPharma, a US biopharmaceutical company focused on blood-related cancers and rare diseases. Through a wholly owned, indirect subsidiary, Sobi plans to commence a cash tender offer that values CTI at $1.7 billion.

Fujifilm Buys Entegris’ Electronics Chemicals Business

Japan’s Fujifilm has agreed to acquire Entegris’ electronic chemicals business for $700 million. The transaction is expected to close by the end of 2023, subject to regulatory approval and other customary conditions.

TotalEnergies Acquires Iber Resinas

TotalEnergies has acquired Spanish mechanical recycling company Iber Resinas for an undisclosed sum. The French energy, chemicals and plastics company said the acquisition will increase its production of circular polymers in Europe, extend its range of recycled products and enhance its access to feedstock through Iber Resinas’ network of suppliers.

IMCD Seals Two Acquisitions and a Distribution Deal

Rotterdam-based speciality chemicals distributor IMCD kicked off the month of May agreeing a major distribution partnership and two outright acquisitions.

Siegfried Takes Majority Stake in Dinamiqs

Swiss CDMO Siegfried has acquired a 95% stake in Dinamiqs, a compatriot biotech focused on developing and manufacturing viral vectors for cell and gene therapies.

PCAS in Exclusive Talks for Sale of Canada Business to Japan’s DIC

PCAS, a French specialist in complex molecules for the life sciences and specialty chemicals markets, has received an offer for its Canadian subsidiary from Japanese chemicals company DIC.

Syngenta Acquires Australian Weed Management Specialist

Syngenta Crop Protection has bought Macspred Australia, a specialist in weed management for the forestry, roads, rail, utilities and infrastructure sectors.

DSM in Talks to Take Adare Biome

DSM is in exclusive talks with US CDMO Adare Pharma Solutions to buy Adare Biome, a French developer and manufacture of postbiotics, for €275 million.

Azelis Expands in Brazil with Vogler Buy

Azelis has agreed to acquire the majority shares of Brazilian specialty distributor Vogler Ingredients. Vogler is active in the food & nutrition and animal nutrition markets and employs 130 people servicing 2,300 customers, including many of the region’s largest food and animal feed producers.

Plaskolite Buys Trinseo’s Mexico Facility

Plaskolite, a US producer of engineering thermoplastics, has agreed to buy a facility in Mexico that specializes in manufacturing cell cast acrylic sheet from Trinseo. The deal, which is expected to close in the next few weeks, includes the land, buildings and equipment – financial terms were not disclosed.

IMCD Takes India’s Tradeimpex

IMCD India has agreed to buy Tradeimpex Polymers (India), a distributor of high-performance polymers and engineering plastics. The transaction is expected to close during the second quarter of 2023.

Clariant Closes Sale of Land Oil Business to Dorf Ketal

Clariant closed on Apr. 3 the sale of its North American land oil business to Indian specialty chemicals manufacturer Dorf Ketal for $14.5 million. The Swiss group said the divestment is a further step to structurally improve its portfolio and sustainability profile.

Hasa Boosts Pool Chemicals with Orenda Buy

Hasa, a US producer and distributor of water treatment products, has acquired Orenda Technologies, a compatriot manufacturer of eco-friendly specialty pool chemicals. Financial terms of the deal were not disclosed.

Cinven to Buy MBCC Admixture Assets from Sika

Private equity investor Cinven is acquiring MBCC Group’s admixture business from Swiss construction chemicals major Sika on the rebound. Earlier, the British Competition and Markets Authority (CMA) had turned thumbs down on plans to sell the business to Ineos, citing antitrust concerns.

Stahl Closes ICP Industrial Solutions Buy

Dutch coatings technology specialist Stahl has completed the acquisition of ICP Industrial Solutions Group (ISG). The major producer of high-performance coatings for packaging and labeling applications is a division of Innovative Chemical Products (ICP).

Albaugh Acquires Corteva’s Glyphosate Business

US agrochemicals company Albaugh has acquired DuPont spinoff Corteva Agriscience’s straight-goods glyphosate business for an undisclosed sum. The deal is for intangible assets only, such as trade names, registrations, regulatory data, formulations, patents and know-how used worldwide, excluding Argentina.

Chemicals M&A Review 2022 and Outlook 2023

2021 was historic for chemical M&As, it was a record-breaking year in terms of total value of deals. Therefore, it was expected that 2022 would only build upon this. However, the combination of high interest rates, supply chain bottlenecks and geopolitical instability saw both the number and value of deals take a significant hit throughout 2022.

LyondellBasell to Acquire Mepol Group

LyondellBasell has entered into a definitive agreement to acquire Mepol Group, a manufacturer of recycled, high-performing engineering compounds based in Italy and Poland.

Archroma Integrates Acquired Huntsman Assets

With the completion of its acquisition of Huntsman Textile Effects on Feb. 28, Swiss specialty chemicals producer Archroma, a portfolio company of US private investment firm SK Capital Partners, has revamped its operational structure.

Croda Acquires South Korean Biotech Firm

UK specialty chemicals company Croda International has agreed to buy Solus Biotech, a South Korean company specializing in ceramide and phospholipid technologies and with emerging capabilities in natural retinol. The purchase price is about £232 million on a debt-free, cash-free basis.

Amgen-Horizon Deal under Intense Scrutiny

Amgen’s proposed acquisition of Horizon Therapeutics for $28.7 billion, including debt, would be the largest healthcare deal since AstraZeneca’s $39 billion purchase of Alexion in 2021, if it goes ahead. As such, it is under intense scrutiny.

Colorcon to Acquire Healthcare Packaging Firm Airnov

Colorcon, a US-based globally active manufacturer of pharmaceutical film coatings and specialty excipients, has signed a Put agreement to purchase Airnov Healthcare Packaging from compatriot private equity firm Arsenal Capital Partners.

Azelis Acquires Israel’s Lidorr

In its second acquisition of the year so far, Azelis has agreed to buy Lidorr Elements, a leading Israeli specialty chemical distributor active in the crop protection, industrial materials and care & nutrition markets.

Maire Tecnimont Takes Majority of Conser

Through subsidiary NextChem Holding, Maire Tecnimont is taking an 83.5% stake in Italian technology licensor and process engineering design company Conser, expanding its portfolio into high-value specialty chemicals and biodegradable plastics.

Sun Pharma Boosts Dermatology Offering with Concert Buy

Indian drugmaker Sun Pharmaceutical Industries is to buy US biotech Concert Pharmaceuticals, gaining access to the latter’s lead product candidate deuruxolitinib for treating an autoimmune dermatological disease.