Novacap S.A.S ("Novacap"), a global player in the pharmaceutical and chemical industries, announces that it has signed an agreement to acquire Chemoxy International Ltd ("Chemoxy"), a contract manufacturer of environmentally-friendly specialty chemicals and solvents.
Based in the UK, Chemoxy operates two multi-purpose production sites in Middlesbrough and Billingham. Chemoxy currently employs 150 people and in 2016 recorded sales of £42 million.
Building on its position in the contract manufacturing of specialty products and solvent recycling, Chemoxy also offers its own product range, with a wide range of low-toxicity, environmentally-friendly solvents, as well as specialty ingredients for personal care.
Chemoxy is present in many markets, including pharmaceuticals, personal care, flavors and fragrances, human food and animal nutrition, environment, surface coatings and lubricant additives.
"Chemoxy is an innovative company with a proven ability to build long-term relationships with its customers and develop new markets and products, which is a perfect fit with Novacap's values and ambition," says Ian Stark, CEO of Chemoxy.
"The acquisition of Chemoxy fits in perfectly with our growth strategy and will strengthen our offering of resilient, high value-added specialty products. By leveraging our joint research and development capabilities, this acquisition will enable Novacap to accelerate its development towards high value-added products and better meet our customers' expectations", says Pierre Luzeau, CEO of the Novacap group.
Completion of this acquisition is subject to approval by the antitrust authorities.
Novacap signs agreement to acquire Chemoxy International
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