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.
  • Skin of Color Society Connects Experts

    Skin of Color Society Connects Experts

    Melissa Meisel, Associate Editor||January 16, 2017
    Dermatologists from across the nation share information and ideas.

  • Erasa

    Erasa's New Evangelist(a)

    January 9, 2017
    Impressed by the performance of its hero SKU, supermodel Linda Evangelista joins the company in a hand's on role.

  • Discourse on Disclosure

    Discourse on Disclosure

    Tom Branna, Editorial Director||January 6, 2017
    Transparency impacts the cleaning industry.

  • Hitting the Right Notes

    Hitting the Right Notes

    January 6, 2017
    Agilex Fragrances is the leader in the middle market fragrance category.

  • The Smell of Clean in 2017

    The Smell of Clean in 2017

    January 6, 2017
    Changing consumer lifestyles and demographics are impacting the scents found in the household cleaning category.

  • On the Edge

    On the Edge

    January 6, 2017
    Expanding beauty brands to watch in 2017