Novacap acquires specialty chemicals player Chemoxy

By Lucy Whitehouse

- Last updated on GMT

Novacap acquires specialty chemicals player Chemoxy

Related tags: Chemical industry, Mergers and acquisitions

Novacap, a worldwide player in the pharmaceutical and chemical industries, announced today that it has signed an agreement to acquire Chemoxy International Ltd, a leading contract manufacturer for specialty chemicals and environmentally friendly solvents.

Chemoxy serves a range of markets, including pharmaceutical, personal care, flavours and fragrances, food and feed, environmental, surface coatings, lubricant additives.

Novacap operates across three divisions: Pharmaceutical & Cosmetics, Mineral Specialties and Performance Chemicals. It says that the Chemoxy acquisition is part of its ongoing growth strategy roadmap.

The acquisition of Chemoxy fits perfectly with our growth strategy roadmap and will strengthen our offering of high-value and resilient specialty products​,” confirms Pierre Luzeau, CEO.

Leveraging Research & Development capabilities, the acquisition will allow Novacap to accelerate its development towards higher value- added products and enable us to better meet the expectations of our customers.​”

Who is Chemoxy?

Chemoxy International Ltd is a leading independent contract manufacturer, with the company stating that it combining the speed and agility of a small/medium sized company with the health and safety and environmental performance of the best major chemical corporations.

The company is based in the United Kingdom and operates two multidisciplinary and flexible manufacturing sites in Middlesbrough and Billingham.

Chemoxy currently employs 150 people and recorded a turnover of £42 million in 2016, while Novacap posted sales of €637.8 million in 2016 and employs more than 2,750 people across the world.

“Chemoxy is an innovative company with a proven ability to build long-term customer relationships and develop new businesses and products, which fits very well with Novacap’s values and ambition", said Ian Stark, CEO of Chemoxy.”

According to both companies, the closing of this acquisition remains subject to customary merger control approval.

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