France-based industrial group Minafin has announced the acquisition of a majority holding in Pennsylvania-based fine chemicals player Pressure Chemical Company.
The move is two-pronged, serving to expand the company’s footprint in the North America market as well as the personal care fine chemicals category.
The company had previously held a minority investment stake in the business, which is based in Pittsburgh, Pennsylvania, but it has now extended it to a controlling stake, although no terms or the cost of the investment were revealed.
Expanding into personal care
Pressure Chemical will now become a part of Minafin’s Technologies and Product Trees division, which is concerned with the production of a wide variety of fine chemicals, some used in the personal care market.
“Pressure Chemical is an outstanding company in its own right,” said Dale Fannin, Minafin’s managing director of the Technologies & Product Trees division.
“But the potential synergy between PCC and the rest of the Minafin Group has exciting potential for growth and for a greater offering of services and technologies for the customers of PCC as well as for the rest of Minafin.”
Tapping into significant synergies
More specifically the company said of the deal that it is expected to produce synergies in the personal care category, particularly for fine chemicals such as cholesterol-based liquid crystals, specialty esters, water soluble polymers and monomers for nail enhancement products.
The expansion into the US market will be backed up with the appointment of a representative agent for the business, Marie Delasson, who will be based in Memphis, Tennessee.
The company is also looking to expand its distribution presence in the all-important New Jersey and New York area with after forming a distribution partnership with JH Calo and Chemical Solutions.
The new business will in turn be looking to expand its brand portfolio, starting off with the launch of its new cooling agent, MinaCare Fresh’in, which is being marketed on the strength of its long lasting effect.