Breaking News

Innospec Acquires Chemsil, Chemtec

September 3, 2013

Deal will strengthen personal care strategy.

Innospec Inc.has acquired Chemsil Silicones Inc and the Chemtec Chemical Co., from its private owners. Chemsil
develops and markets silicone-based formulations to the personal care industry. Chemtec, which distributes a wide range of personal care ingredients, is focused on customers on the West Coast. The companies have combined sales of $40 million.

Commenting on the deal, Patrick Williams, president and CEO of Innospec said: "Personal Care is the strategic core of our Performance Chemicals business, and we have been seeking to add to both the technology base and the geographical footprint of this business. We are delighted to acquire Chemsil, which brings complementary technologies to our current portfolio, and Chemtec, which provides us with a solid base in theimportant West Coast market. We expect the acquisition to be immediately accretive."

Chemsil will become part of Innospec's Performance Chemicals business, which develops and markets a range of surfactants and emollients to the personal care industry. Chemtec will continue to operate as a key distributor in this market, offering a high level of customer service.

The acquisition has been funded through the successful negotiation of an amendment and increase to the Company's existing revolving credit facility agreement from $100 million to $150 million. The secured facility remains available through to December 2016. In addition, the amendment allows the company to request a further amount of up to $50 million to be committed by various lenders.
blog comments powered by Disqus
  • Start Stuffing The Ballot Box (Again)!

    Start Stuffing The Ballot Box (Again)!

    June 28, 2016
    Vote on the finalists in Happi's reader's choice Anti-Aging Product of the Year contest!

  • What

    What's Next for the UK?

    Sarah Boumphrey, Euromonitor International||June 27, 2016
    Euromonitor weighs in on how Brexit could impact consumer product companies.

  • The Future of Innovation

    The Future of Innovation

    Nancy Jeffries, Contributing Editor||June 27, 2016
    Fashion Institute of Technology graduate students tackle a far-reaching topic for their Capstone project.

  • Take Notice

    Take Notice

    Melissa Meisel , Associate Editor||June 1, 2016
    Packaging trends revolve around trendy artwork, eco-conscious materials—and portability is a plus too!

  • Virtual Reality

    Virtual Reality

    Christine Esposito, Associate Editor||June 1, 2016
    An update on nature-identical ingredients for cosmetics and personal care products.

  • Shiseido Advances in the US

    Shiseido Advances in the US

    Tom Branna, Editorial Director||June 1, 2016
    New facility in Windsor, NJ demonstrates its dedication to the US and other markets outside Japan.