Elementis Specialties acquires Hi-Mar Specialty Chemicals US coatings additives company $33 million

Elementis acquires coatings additives company in US for $33 million

6:03 AM, 26th February 2014
Elementis Specialties acquires Hi-Mar Specialty Chemicals

NEW JERSEY, US: Elementis Specialties, Inc has agreed to purchase the assets of Hi-Mar Specialty Chemicals, a US coatings additives company, for a cash consideration of $33 million. The acquisition of Hi-Mar will further expand the Company’s product and technical service offering in these high value segments.

Further growth will be driven by combining the market positions, technical capabilities and product portfolios of the two businesses, to provide customers with an enhanced product and service offering and to further expand sales of Hi-Mar products beyond North America. The transaction was signed and closed on 19 February 2013 and is expected to be earnings enhancing in the current year.

“The acquisition of Hi-Mar Specialty Chemicals broadens our capabilities in value added, higher margin defoamer markets. Our two businesses share a common commitment to serving customers with innovative solutions and technologies, and Hi-Mar’s complementary product portfolio, customer service culture and the opportunity to leverage newly acquired technologies globally make it an excellent addition to our Specialty Products business,” said David Dutro, Chief Executive, Transaction Group, Elementis Specialties.

 

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