Frankfurt am Main, Germany – March 4, 2024
ICIG has successfully closed the acquisition of a majority stake in Vasant Chemicals, a renowned Indian company specializing in the production of Specialty Chemicals and Pharma Intermediates. The company is set to be integrated into the WeylChem Group the Fine Chemicals platform of ICIG. This acquisition is a key component of WeylChem's strategic initiative to expand its presence in the global specialty chemicals market. This strategic alliance also marks a significant milestone in Vasant Chemical’s mission to expand its global footprint and enhance its value proposition for customers worldwide.
Vasant Chemicals, headquartered in Hyderabad, India, brings 40+ years of expertise to the WeylChem Group. With state-of-the-art manufacturing facilities in Hyderabad (Jeedimetla) and Visakhapatnam (Atchutapuram), the company specializes in the production of specialty chemicals and pharmaceutical intermediates and exports its products under long-term contractual agreements, reflecting the company's dedication to fostering long-lasting partnerships and stable customer relationships.
“By integrating the expertise, resources, and technologies of both companies, the acquisition aligns with our strategic goal to create long-term value for our customers, employees, and stakeholders.” states Dr Andreas Maier, CEO of the WeylChem platform convinced of the strategic fit of the acquisition. “It allows WeylChem to directly participate in the fast-growing Indian market and adds a manufacturing and distribution base in Asia. Vasant Chemicals aligns seamlessly with WeylChem's commitment to support the success of our customers with expertise and dedication.”
“This strategic transaction marks a significant step forward in Vasant Chemical’s vision to be a Global Multidimensional organization fostering global partnerships and unlocking value for its stakeholders. We are confident that the synergies between our organizations will drive operational efficiencies and unlock new growth opportunities. By leveraging our collective strengths, we will continue to deliver value-added solutions that empower our customers to achieve their business objectives" states G.K.B Chowdary representing the former majority owner who will still hold a minority participation.
Ambit Pvt. Ltd. acted as the exclusive financial advisor to Vasant Chemicals for this transaction. PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft and Deloitte Touche Tohmatsu India LLP acted as the financial due diligence advisors to ICIG and Vasant Chemicals, respectively. Dentons Link Legal and S&R Associates acted as the legal counsels to ICIG and Vasant Chemicals, respectively.