Beauty ingredient manufacturer Vertellus to acquire IM Chemical
At the start of the year, Vertellus was itself acquired by Pritzker Private Capital, as Cosmetics Design reported. Now, as Thomas Chadwick, Principal at Pritzker Private Capital, tells the press “The acquisition of IM Chemicals will expand Vertellus’ capabilities to deliver innovative specialty products and solutions to its customers.”
“IM Chemicals,” he says, “is a strong fit with Vertellus’ strategy of using add-on acquisitions to accelerate growth in key markets, including health and beauty, coatings, specialty lubricants, as well as select food and crop protection markets.”
Deal adds new markets, new customers, and new manufacturing facilities
Like most specialty chemical makers, Vertellus and IM Chemical (the intermediates and specialty chemicals division of ESIM Chemicals) both serve multiple industries.
Indiana- based Vertellus got its start in 1857 and today serves health care, food and agriculture, coatings, and transportation customers. ESIM Chemicals in based in Linz, Austria, and serves not only the cosmetics industry but also the food and feed, crop production, pharma, coatings, lubricants, and fuel industries.
The IM division lists 30+ ingredients in its portfolio, including Diacetone Acrylamide, Dimethyl Itaconate, and Dimethyl Sebacate.
But besides the ingredients and intermediaries themselves, the acquisition deal adds new manufacturing facilities in Europe and therefore new markets and customers to Vertellus: Jim Elliott, Vice President and General Manager of Vertellus’ Anhydrides & Specialties business, remarks, “IM Chemicals is a perfect fit with Vertellus. The acquisition enhances our ability to meet the needs of our global customer base for specialized products and solutions, adding additional production capacities in Europe and expanding our product offerings into new markets.”
Vertellus aims to be ranked among leading global specialty chemicals companies
Pritzker Private Capital specializes in building for the long term with middle-market companies. But no matter the method, such firms are squarely focused on profit through growth. And here is where the acquisition of IM Chemical fits: “This acquisition is directly in line with Vertellus’ strategy to become a leading global provider of specialty chemicals and solutions through both internal growth and acquisitions of complementary customer-focused businesses,” says John Van Hulle, CEO of Vertellus since late 2018. “We are excited,” he says, “to welcome the IM Chemicals team to the Vertellus family,”