ICIG buys two more

International Chemical Investors Group (ICIG), the owner of WeylChem and many other European assets, has acquired two more operations. The acquisition of HCS Group in June followed on from that of Organica Feinchemie in May. Terms were not disclosed in either deal.

Based in Frankfurt and with seven sites employing about 500 in Germany, the UK, France and the US, HCS supplies hydrocarbon specialities and additives for applications in the transport, life science, general industrial and energy markets. It is probably best known for the Haltermann Carless, Electrical Oil Services and ETS Racing Fuels brands.

ICIG and the shareholders have signed definitive agreement for this transaction. It is expected to close in Q3, subject to regulatory clearance other customary closing conditions. Organica, which is based at Bitterfeld-Wolfen, is now operating as WeylChem Organica following its integration into WeylChem. This has added about 150 people to the WeylChem workforce, taking the total to 1,500, while sales will rise by over €20 million/year to a total of around €730 million/year.

Organica specialises in flexible custom synthesis in quantities from 25 kg to 75 tonnes, is authorised to produce more than 70 reaction types and has customers in more than 30 countries. CBW, a subsidiary that is also part of the sale, will focus on contract manufacturing for WeylChem, potentially adding over 900 more tonnes/year of capacity.