Vertellus, which is backed by Pritzker Private Capital, has agreed to acquire certain Chemtrade’s businesses. No financial terms were disclosed. The transaction is expected to close during the fourth quarter of 2021. Chemtrade is a provider of industrial chemicals and services.
PRESS RELEASE
INDIANAPOLIS – September 30, 2021 – Vertellus, a manufacturer of specialty products for various consumer goods, food & agriculture, healthcare, and industrial markets, today announced it has signed a definitive agreement to acquire certain businesses of Chemtrade Logistics Income Fund (TSX: CHE.UN) (“Chemtrade”). This acquisition will expand Vertellus’ capabilities to manufacture and develop specialty ingredients in high-growth healthcare and pharmaceutical sectors.
Under the terms of the transaction, Vertellus will acquire Chemtrade’s business units responsible for producing potassium chloride, caustic pellets, and vaccine adjuvants. The acquired businesses will give Vertellus a leading market position in the manufacturing of specialty ingredients that are essential in the efficacy of medications for hypertension and diabetes, production of next-generation biologics, and improving the effectiveness of certain vaccines. With this acquisition, Vertellus will reach an expanding global base of long-term customers and strengthen its portfolio in these dynamic market segments.
John Van Hulle, CEO of Vertellus, said, “We are pleased to welcome these strong businesses and talented teams to the Vertellus family. The high-quality product portfolios, recurring base of customers, and robust R&D pipelines of these Chemtrade businesses will position us to grow and expand our presence in the attractive healthcare and pharmaceutical sectors. The addition of these growth-oriented businesses to Vertellus will strengthen our commitment to our customers and help us meet increasing demand for these critical healthcare and pharmaceutical specialty ingredients.”
Jeff Berresford, VP & General Manager of Specialty Chemicals at Chemtrade, said, “We believe that Vertellus is the right strategic partner for the next phase of our business’ growth and expansion. We sought to partner with a team that respected our commitment to innovation and shared our customer-centric approach. With Vertellus as our partner, we are confident we will expand into new geographies and end markets, continue to invest in our technology, and enhance our manufacturing capacity so we can continue to deliver superior service for our global customers.”
Thomas Chadwick, Principal at Pritzker Private Capital, added, “This acquisition is an excellent strategic fit with Vertellus, and we are excited to support the ongoing success of the combined business. As we integrate these growing businesses, Vertellus will be in a strong position to benefit from desirable market dynamics and achieve long-term growth and expansion.”
The transaction is expected to close during the fourth quarter of 2021, subject to regulatory approval and customary closing conditions.
About Vertellus
Headquartered in Indianapolis, The Vertellus group of companies was originally founded in 1857 as a manufacturer of niche specialty products. Today, Vertellus is one of the largest providers of unique specialty chemicals used in diverse applications, processes, and market sectors, including personal care, healthcare, food & agriculture, performance coatings, paper additives, infrastructure, and industrial specialties. With 1,000+ employees, Vertellus serves customers across the globe from 10 international manufacturing facilities. Vertellus is a Responsible Care® company. For more information, www.vertellus.com.
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