- Aceto global, provider of specialty materials for life sciences and advanced technology end markets, announced the acquisition of a majority stake in Ahmedabad based Finar Limited. The deal value was not revealed.
- Founded in 1947, Aceto is a global provider of differentiated specialty materials in life sciences and advanced technology end markets. It is headquartered in Port Washington, New York.
- Aceto’s majority stake is held by New Mountain Capital (NWC), New York from April 2019.
- Aceto has business operations in nine countries and significant staff in India, Europe and North America.
- Aceto distributes over 1,100 chemical compounds used principally by the pharmaceutical, nutraceutical, agricultural, and specialty chemical industries.
- Finar is an Ahmedabad based manufacturer of pharmaceutical excipients, lab chemicals, aquaculture inputs, and food grade additives headed by Amit Maheshwari.
- Beginning as a manufacturer of Laboratory Chemicals, the company has since increased offerings to over 1,000 products and serves more than 10,000 customers across 50 countries.
- New Mountain Capital (NWC), which owns majority stake in Aceto, has a strategy of investing in defensive growth industries.
- Defensive industries are industries that are relatively stable in economic fluctuation like high growth period or recession. Specialty chemicals being one such industry.
- This cross border acquisition expands Aceto’s global footprint. CEO of Aceto, Gilles Cottier remarked that bringing together Finar and Aceto will give customers of both companies more solutions to support their supply chain globally.
- Aceto has also acquired Syntor, A&C and IsleChem recently as part of growth strategy.
- Aceto will support Finar’s manufacturing facilities and offices in India.
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