Valtris completes acquisition of Akcros Chemicals
Valtris Specialty Chemicals has completed the acquisition of Akcros Holdings (Akcros), a provider of specialty chemicals used as additives in production and processing of polymers, paint, and coatings with operations in Europe and North America.
Valtris manufactures specialty chemicals, and was formed from Ferro by H.I.G. in December 2014.
These chemicals produced by Valtris are primarily used as additives in the production and processing of polymers, sealants, and chemical intermediates.
It is reported that Akcros has strong R&D capabilities, customer service orientation and breadth of product offering.
Akcros has two primary manufacturing sites in Eccles, UK, and New Brunswick, New Jersey, US, with additional production capability in Mumbai, India, and Guangzhou, China.
Valtris CEO Paul Angus said: "Akcros is a highly strategic and complementary acquisition for us, providing new and multiple avenues for growth. There are significant opportunities to enhance our product offerings and provide more value to our customers.
"In addition, Valtris will now be a leading player not only in North America but also in Europe, a major goal of ours."
The acquisition will provide Valtris additional manufacturing capabilities, increased product breadth and a global presence helping the company in expanding its polymer additives industry.
Akcros CEO Richard Catchpole said: "Strategically, Akcros will benefit from being part of a larger polymer additives platform and we are looking forward to expanding Valtris' capabilities to deliver the very best products to our customers and to grow the overall business on a global level."
In this transaction, Akcros was advised by CIM Partners, Gately and Grant Thornton.
H.I.G. Capital managing director Keval Patel said: "Akcros is an industry leader in Europe in a number of product lines that are highly complementary to Valtris and has an excellent track record of quality and consistency.
"We are impressed with Akcros' talented management team and believe they will thrive as part of the Valtris family. We are pleased to support this acquisition and continue to be excited regarding the Company's future prospects."