Ineos Enterprises has agreed to acquire Ashta Chemicals from Bigshire Mexico for an undisclosed sum. The deal that includes a 100,000 kg/y potassium hydroxide (KOH) and a 65,000 t/y chlorine plant, is targeted to close before the end of 2022, subject to regulatory approvals.
South Korea’s LG Chem is to acquire US biopharma Aveo Oncology for an equity value of $566 million. Based in Boston, Massachusetts, Aveo is focused on developing cancer treatments.
Lilly has agreed to acquire Akouos, a precision genetic medicine company that is developing gene therapy treatments for hearing loss. Both companies’ boards have approved the deal, which is expected to close in the fourth quarter and cost Lilly up to $610 million.
Every year, the chemical industry sees hundreds of mergers and acquisitions (M&A). Traditional M&A drivers, such as consolidation and portfolio extension, are still important. But many transactions also show that the nature of M&A is evolving, as chemical companies look for ways to contend with ongoing volatility and move to a more sustainable future.
Petronas Chemicals Group Berhad (PCG) has completed its acquisition of all shares of Swedish chemical producer Perstorp for $1.54 billion, based on an enterprise value of €2.3 billion.
The European Commission has cleared Celanese’s proposed purchase of DuPont’s Mobility and Materials (M&M) business after the former agreed to sell its global thermoplastic copolymer business to allay competition fears.
US life sciences company Cytiva has acquired Germany’s Cevec Pharmaceuticals, a move Cytiva said would further strengthen its leading position in biomanufacturing solutions. Financial terms were not revealed.
Dutch life science ingredients distributor Barentz has acquired Viachem, a US-based company that distributes specialty chemicals, food additives and ingredients.
North American biochemical companies Flexible Solutions (FSI) and Lygos have called off their proposed merger. The companies did not give a reason for terminating the agreement, but said they remain committed to finding routes to sustainable aspartic acid and derivatives and would not let the end of their merger plans prevent them from working together in other ways.
AstraZeneca’s rare disease arm Alexion has agreed to acquire LogicBio, a US clinical-stage specialist in genomic medicines.
Nouryon has agreed to buy ADOB Fertilizers, a Polish-based supplier of chelated micronutrients, foliars and other specialty fertilizers. The move will expand Nouryon’s product portfolio and broaden its offerings for customers in the crop nutrition market.
Azelis has entered into an agreement to buy Eurotrading, an Italian specialty chemicals distributor with an extensive product portfolio in actives, emollients and emulsifiers.
Roquette, a French-based provider of pharmaceutical and nutraceutical excipients, has acquired Crest Cellulose, an Indian excipient manufacturer, reinforcing its presence in India and Asia.
Danish coatings company Hempel has acquired Cap Couleurs’ store network in southeastern France, maintaining its segment leadership in the Var region and supporting its growth initiatives. Financial terms were not disclosed.
Henkel has acquired US advanced materials start-up NBD Nanotechnologies for an undisclosed sum. Headquartered in Boston, Massachusetts, NBD specializes in developing coatings and additives with surface wettability.
US specialty chemicals company Stepan has agreed to acquire the surfactant business and associated assets of compatriot firm PerformanX Specialty Chemicals. The purchase will include intellectual property, commercial relationships and inventory.
French industrial gases group Air Liquide has announced the sale of its industrial merchant business in Saudi Arabia to Abdullah Hashim Industrial Gases & Equipment for an undisclosed sum.
Kemira has agreed to sell its colorants dye business to Chromascape, a US-based specialty colorants and additives supplier.
Indian specialty chemicals company Calibre Chemicals has agreed to acquire RheinPerChemie (RPC) from Evonik. Based in Rheinfelden, Germany, RPC manufactures ammonium and sodium persulfates.
IMCD has taken over Japanese specialty distribution company Kuni Chemical for an undisclosed sum. Kuni specializes in industrial applications that range from coatings and construction to automotive and packaging materials.
An affiliate of funds advised by SK Capital Partners has completed the sale of NuCera Solutions to international specialty chemicals company Chase Corp. for $250 million. The companies entered into the agreement on Jul. 18.
French engineering and technology company Technip Energies has boosted its sustainable chemicals portfolio with the purchase of DSM’s biosuccinium technology. Financial terms were not disclosed.
Clariant has agreed to sell its quats business to Singapore’s Global Amines for $113 million. Global Amines is a 50:50 joint venture between Clariant and Singapore-based agricultural and oleochemicals company Wilmar.
Danish pharma Novo Nordisk has agreed to acquire US clinical-stage biopharma Forma Therapeutics in a deal worth $1.1 billion that will expand its blood disorders portfolio. Forma’s board of directors has unanimously approved the takeover, which is expected to close in the final quarter of 2022.
Germany’s LTS Lohmann Therapie-Systeme has completed the acquisition of St. Paul, Minnesota-headquartered CDMO Tapemark, a US specialist in transdermal drug delivery systems, oral thin films and unit dose semi-solid drug and iontophoresis products.
German CDMO Evotec is to acquire compatriot company Central Glass Germany from Japanese owner Central Glass for a nominal price of €1. The transaction, which remains subject to the usual closing conditions, is expected to complete on Nov. 1.
Ineos Phenol is paying $330 million to acquire Mitsui Phenols Singapore. With the deal, expected to close in the first quarter of 2023, subject to regulatory approval, it will add 1 million tonnes of annual capacity to its production volume. The business had sales of $750 million in 2021 and 120 employees, all of whom will transfer to the new owner.
European private equity group Investindustrial — through subsidiary PVC Europe — has agreed a sale of PVC compounder Benvic to International Chemical Investors Group (ICIG). However, it expects to retain Benvic’s medical activities in Italy.
Novartis has finally confirmed definite plans to spin off its generic drugs arm Sandoz.
IMCD has agreed to buy PromaPlast, a distributor of advanced materials serving markets in Mexico and the US. Terms of the transaction, which is expected to close in September, were not disclosed.
Azelis has agreed to buy Turkish specialty chemicals distributor Dağalti Kauçuk San, marking its third acquisition in the country so far this year.
US specialty chemicals company Solenis has entered into an agreement to buy Clearon, a compatriot manufacturer of sanitizers and disinfectants for water treatment and household, industrial and institutional applications. Financial terms of the deal were not disclosed.
German engineering plastics producer Covestro has signed a definitive agreement to sell its Additive Manufacturing Business to US 3D printing specialist Stratasys for about €43 million. Closing of the deal is expected for the first quarter of 2023.
Göttingen, Germany-based life science group Sartorius, through its French-listed subgroup Sartorius Stedim Biotech, plans to acquire all shares of Nottingham, England’s Albumedix, a specialist in recombinant albumin-based solutions, for about £415 million.
Borealis has confirmed its intention to launch a squeeze-out offer for Belgian fertilizer producer Rosier. It already held 77.5% of Rosier and raised its shareholding to 98.09% through a capital increase late last month.
