Specialty chemicals manufacturer Vertellus acquired IM Chemicals, another specialty chemicals producer involved in the lubricants industry, the company announced this week.
IM Chemicals, the intermediates and specialties division of ESIM Chemicals, based in Linz, Austria, produces succinic anhydride and succinimide, which are used to make lube additives.
Indianapolis-based Vertellus makes castor oil derivatives and citrate polymer additives. Last year, the company acquired lubricant additives manufacturer Bercen Chemicals.
“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,” Vertellus CEO John Van Hulle said in a June 1 press release.
IM Chemicals operates a production site in Linz, Austria. The companies did not disclose the cost of the acquisition of the production capacity of IM Chemicals’ facility
“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,” said Jim Elliot, Vertellus’ vice president and general manager of anhydrides and specialties.
“IM Chemicals 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,” added Thomas Chadwick, principal at Pritzker Private Capital, which owns Vertellus. The transaction is subject to regulatory approval.