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



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

Lubrizol plans $25 million expansion at Kentucky plant

CLEVELAND, US: The Lubrizol Corporation said that it will invest more than $25 million in its Calvert City, Kentucky manufacturing facility. The faci ...

Read more
MHI wins fertilizer plant construction contract in Bangladesh

TOKYO, JAPAN: Mitsubishi Heavy Industries Ltd (MHI), together with China National Chemical Engineering No.7 Construction Co Ltd, have signed a fertili ...

Read more
TUV SUD inaugurates world-class safety testing lab in Noida

NOIDA, INDIA: TUV SUD has inaugurated its new Non-destructive testing (NDT) and Destructive testing (DT) laboratory in Noida. The fully equipped state ...

Read more
P2 Science starts commercial production of renewable C9 aldehyde

NAUGATUCK, US: P2 Science Inc, a bio-renewable chemistry company has produced the first ever commercial quantities of BioNonanal, at its new plant in ...

Read more
CropEnergies to pause production at UK ethanol plant

MANNHEIM, GERMANY: CropEnergies AG said that will pause bioethanol production at its Wilton plant, UK, from the end of November 2018 on, due to low pr ...

Read more
LyondellBasell CEO appointed president of ICCA

HOUSTON, US/ LONDON, UK: LyondellBasell said that its CEO Bob Patel has been appointed president of the International Council of Chemical As ...

Read more