CPS acquires FAR Chemicals in US

CPS acquires FAR Chemicals in US

5:00 AM, 30th October 2018

NEW YORK/CLEVELAND, US: CPS Performance Materials (CPS) has acquired FAR Chemical (FAR) from Edgewater Capital Partners (Edgewater).  

FAR is an industry leader in the development and production of specialty organic chemicals for customers in industries including pharmaceuticals, composites, coatings, electronics, flavors, fragrances, and personal care.

"FAR's specialized chemistry capabilities in bromination, organometallics, and cryogenic reactions combined with safe and effective management of hard to handle materials are a nice complement to CPS.  The combination of FAR with CPS's specialty chemical and cGMP manufacturing capability will enable us to broaden our offerings to pharmaceutical, advanced composites, CASE and personal care customers," said Jeremy Steinfink, President and CEO of CPS.

"Combining our companies will result in an expanded suite of chemistries and capabilities. This will allow us to provide enhanced product and service offerings to our customers and more opportunity for our suppliers. These two companies complement each other on a number of levels, from chemistries and capabilities to common customers and a focus on our key growth markets," said Joe Beatty, CEO at FAR.

Seaport Global Securities LLC acted as financial advisor to Edgewater. Balmoral Advisors acted as financial advisor to Arsenal and CPS.

© Worldofchemicals News


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