Aceto acquires Syntor
Aceto, which describes itself as a “virtual manufacturer of speciality materials” for life science, nutrition, agricultural and advanced technology applications, has acquired Syntor Fine Chemicals. Terms were not disclosed. Trumont International was the sell-side adviser to Syntor.
Syntor, which mainly supplies the pharmaceutical, agrochemical, aroma and electronics markets, will henceforth operate under the name ‘Syntor by Aceto’. It is intended that all employees will be retained in their current roles. The company is based at Runcorn, UK, but most of its manufacturing is now done in China and India.
Aceto CEO Gilles Cottier described the acquisition of Syntor as “an important step in Aceto’s strategic growth plan. Syntor’s synthesis and formulation capabilities enhance Aceto’s existing services and expand our value-added offerings in life sciences materials.” Syntor’s technical team, he added, will enable it to offer greater product customisation to clients.
Aceto is owned by New York-based investment firm New Mountain Capital, which acquired it from Chapter 11 bankruptcy last year. This resulted in the sell off of its generic drugs business, Rising Pharmaceuticals, and its chemicals-related business. It now has business operations in nine countries, distributing over 1,100 chemical compounds, with sourcing operations in China and India.