International Chemical Investors Group (ICIG) has acquired a majority stake in Vasant Chemicals, the company specializing in the production of Specialty Chemicals and Pharma Intermediates.
The company is set to be integrated into the WeylChem Group – the Fine Chemicals platform of ICIG, said a company statement.
This acquisition is a key component of WeylChem’s strategic initiative to expand its presence in the global specialty chemicals market, it added.
With state-of-the-art manufacturing facilities in Hyderabad (Jeedimetla) and Visakhapatnam (Atchutapuram), the Hyderabad-based Vasant Chemicals specializes in the production of specialty chemicals and pharmaceutical intermediates and exports its products under long-term contractual agreements.
“By integrating the expertise, resources, and technologies of both companies, the acquisition aligns with our strategic goal to create long-term value for our customers, employees, and stakeholders,” states Andreas Maier, CEO of the WeylChem platform.
Ambit Pvt. Ltd. acted as the exclusive financial advisor to Vasant Chemicals for this transaction.
International Chemical Investors is a privately owned industrial group with sales in excess of €4.6 billion and operating 42 production sites in Europe and the US. ICIG is focusing on five main platforms: Fine Chemicals under the WeylChem brand, Care Chemicals (Catexel), Chlorovinyls (VYNOVA), Compounds (BENVIC), Hydrocarbons & Solvents (HCS) brand, and Enterprises, which comprises several specified companies.