Iron Path-backed PureTech Scientific acquires Chemours’ glycolic acid unit

• Headquartered in Belle, West Virginia, PureTech Scientific is a provider of ultra-high purity alpha hydroxy acids for the life sciences and specialty chemical industries
• James Kanicky, business manager of the glycolic acid division, will serve as CEO/president of PureTech Scientific
• FORVIS, LLP is acting as Iron Path Capital’s financial advisor and McDermott Will & Emery is acting as its legal advisor

Iron Path Capital-backed PureTech Scientific has acquired the glycolic acid business from The Chemours Company. The purchase price is $137 million.

Headquartered in Belle, West Virginia, PureTech Scientific is a provider of ultra-high purity alpha hydroxy acids for the life sciences and specialty chemical industries.

On the deal, Iron Path Capital co-founder and Managing Partner Rob Reistetter said in a statement, “We believe that this acquisition and the creation of a standalone operating company invested in safety, integrity, continuous improvement, collective entrepreneurship, technical support, and strong research and development will bring significant value to PureTech Scientific customers and to the market.”

James Kanicky, business manager of the glycolic acid division, will serve as CEO/president of PureTech Scientific.

FORVIS, LLP is acting as Iron Path Capital’s financial advisor and McDermott Will & Emery is acting as its legal advisor.

Based in Nashville and Charlottesville, Virginia, Iron Path Capital invests in the healthcare and specialty industrials sectors.