Dorf Ketal Chemicals has acquired Intec business from Sanmar Specialty Chemicals Ltd.
Intec is leading player in organic titanates, poly vinyl formal and poly isocyanates, and has its manufacturing unit in Dadra.
Dorf Ketal is one of the leading suppliers of specialty chemicals for downstream hydrocarbon industries and relevant ancillary industries.
A press release from Dorf Ketal said the acquisition will boost Intec’s business as it could offer secondary and specialty amines and resins to organic titanates and polyvinyl formals.
Mr Subodh Menon, Global Business & Operations Director, Dorf Ketal, said the acquisition of Intec is a strategic fit for Dorf and will cater to newer product segments, including specialty catalysts. Besides, it would bring in better synergy to its ongoing programmes due to Intec’s R&D capabilities.
Mr V. Ramesh, Director, Sanmar Speciality Chemicals, said this move would help Sanmar to focus on its core businesses of research services, biotechnology and high value intermediates.
O3 Capital advised the sellers on the transaction, while Ernst & Young Pvt Ltd worked on the buy side, the release added.
Source: The Hindu Businessline