Vertellus Specialties, an Indianapolis-based specialty chemical maker, has acquired certain assets of Degen Oil & Chemical Co., a Jersey City, N.J.-based provider of blown vegetable oils and fish oils, derivatives and specialty alkyds for the coatings and inks industries. No financial terms were disclosed. Vertellus is a portfolio company of Wind Point Partners.
Vertellus Performance Materials Inc. (“Vertellus”), an affiliate of Indianapolis-based Vertellus Specialties Inc., a leading specialty chemicals company, has announced the acquisition of certain assets of Degen Oil & Chemical Company (“Degen”), effective July 1, 2009.
Vertellus has a targeted focus in the coatings, inks, adhesive and sealants markets and is a recognized, leading producer and innovator of blown oils and castor oil-based specialty derivatives for coatings and inks applications. Degen, located in Jersey City, New Jersey, has been a leader in blown vegetable oils and fish oils, derivatives and specialty alkyds for the coatings and inks industries for over fifty years.
“This acquisition supports Vertellus’ strategy of strengthening and further enhancing its value creation in core markets,” said Jeremy Steinfink, President of Vertellus Specialty Materials “The Degen product line and customer base complements Vertellus’ existing business and presents opportunities for the leveraging of extensive technical applications and manufacturing capability within Vertellus. This acquisition will consolidate Vertellus’ existing position and expand growth opportunities for its evolving marketdriven technology offerings in bio-based chemistries.”
The acquired Degen assets will be integrated into existing Vertellus facilities in Bayonne, New Jersey and Greensboro, North Carolina.
About Vertellus Specialties Inc.
Headquartered in Indianapolis, Vertellus Specialties Inc. develops and manufactures specialty chemicals used in pharmaceuticals, personal care, nutrition, agriculture, and performance materials markets. Vertellus is the leading global producer of pyridine and picolines, specialty pyridine derivatives, DEET, castor oil derivatives and systems, and citrate polymer additives and systems, and is the world’s second largest producer of vitamin B3. The company has a global manufacturing presence and approximately 750 employees. For more information visit www.vertellus.com.