Ascensus acquire leading global producer boranes, specialty alcoholates

Ascensus to acquire leading global producer of boranes, specialty alcoholates

6:39 AM, 9th September 2019
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BELLEVUE, US: Ascensus Specialties LLC has signed a definitive agreement to acquire Callery LLC (Callery). Callery is the leading global producer of boranes and specialty alcoholates. The transaction is expected to close within the next 30 days.

Based in Evans City, PA, Callery produces specialty reagent chemicals primarily for the pharmaceutical, life science, and niche specialty end markets. The Company was formed in 2017 through Edgewater Capital’s acquisition of BASF’s Inorganic Specialties business. The Company provides world class technical support and extensive R&D capabilities to provide turnkey solutions from lab to launch.

Callery’s unique infrastructure and longstanding expertise ensure reliable, high purity reagents for API drugs, electronics, structural adhesives, and other high-value applications.

Headquartered in Bellevue, WA, Ascensus is the largest global producer of dry and liquid sodium borohydride. Wind Point originally acquired the business from Dow Chemical in 2015 and subsequently invested in production expansion and additional supply chain and information technology leadership. Ascensus sodium borohydride chemicals serve pharmaceutical and other industrial customers across North America, Europe, and Asia.

“We are very excited to have Callery join the Ascensus family. Together, Ascensus and Callery will become a global reagents leader with #1 market positions in high- growth, attractive life science, pharmaceutical, and niche specialty industrial end markets. Both companies’ recent capacity expansions position us well to support our customers’ growth for years to come,” said Mike Huff, CEO of Ascensus.

“I want to thank Edgewater and our Board for their support over the past three years. The Callery team is proud of our success under their stewardship, and we are looking forward to further growth in partnership with Wind Point and Ascensus,” added Harry Rathore, CEO of Callery.

Harry Rathore, CEO of Callery, will be joining the Board of Ascensus and overseeing the transition to Ascensus ownership.

Debt financing is underwritten by Antares Holdings and KeyBanc Capital Markets Inc. Reed Smith LLP served as legal counsel to Wind Point and Ascensus, and KPMG LLP provided transaction advisory services in connection with the transaction. Taft Stettinius & Hollister LLP served as legal counsel and KeyBanc Capital Markets served as financial advisor to Callery and Edgewater.

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