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.
Evonik has agreed to sell its site at Niederkassel-Lülsdorf, Germany, and the associated cyanuric chloride business at Wesseling to International Chemical Investors Group (ICIG). Terms were not disclosed and the deal is scheduled to close in mid-2023, subject to regulatory clearance and approval by the competent Evonik committees. The businesses being divested had sales of around €260 million in 2022.
International Chemical Investors (ICIG) has made a firm and binding offer to acquire sodium metal specialist Métaux Spéciaux (MSSA) from Nippon Soda. It has also completed the acquisitions of Inprotec from Paragon Partners and its minority co-shareholders, and of Benvic Group from Investindustrial Growth.
International Chemical Investors Group (ICIG), the owner of WeylChem and various other chemical operations, has agreed to acquire Inprotec from Paragon Partners and its minority co-shareholders. The transaction is expected to close in November, subject to customary antitrust clearance.
Private equity firm Atorg has agreed to acquire CDMO CordenPharma from International Chemical Investors Group (ICIG), subject to customary regulatory approvals. The founders, Patrick Schnitzer and Dr Achim Riemann, will also reinvest in the firm and CEO Michael Quirmbach remains in place.
According to the German business newspaper Handelsblatt, the International Chemical Investors Group (ICIG) intends to sell CordenPharma. A valuation of around €3 billion has been cited. ICIG has, the paper said, has already had meetings with potential buyers and will send out information packs to them by the end January. Neither ICIG nor CordenPharma has made any comment.
The WeylChem Group has announced that it is building the largest potassium-fluoride (KF)-based plant for halogen exchange (Halex) reactions in the Western world, at its Allessa site in Fechenheim Industrial Park in Frankfurt. This is the largest investment in Allessa since it was incorporated into WeylChem eight years ago. The project will take two years to complete.