W. R. Grace builds pharma and consumer portfolio with Fine Chemistry Services acquisition
The transaction is valued at approximately $570 million, including $300 million in cash.
Chemicals company W. R. Grace & Co. has acquired the Fine Chemistry Services (FCS) business of chemical supplier Albemarle Corp.
The transaction is valued at approximately US$570 million, including US$300 million in cash and US$270 million funded through the issuance to Albemarle of non-participating preferred equity of a newly created Grace subsidiary.
“FCS brings compelling innovation and manufacturing capabilities to our Materials Technologies business, enabling us to better serve our customers with high-value solutions that span every stage of their development cycle,” said Hudson La Force, Grace’s president and CEO, in a news release.
Pharma and consumer are described as being the largest, fastest growing and most profitable subsegment within Grace’s Materials Technologies business, the news release continued. “FCS adds a comprehensive portfolio of high-value products and services with highly complementary analytical, regulatory and manufacturing capabilities to [our] existing pharma portfolio focused on chromatographic resins, formulation excipients and drug delivery, pharmaceutical intermediates and active pharmaceutical ingredients,” it said.
W.R. Grace is headquartered in Columbia, Maryland.