The Board of Chemoxy International Ltd has announced that a majority shareholding in the company has been taken by Novacap SAS. The acquisition, which is subject to approval by the relevant regulatory authorities, is expected to be completed by the end of August 2017.
Chemoxy is one of Europe’s largest independent contract manufacturers with custom processing units at two sites in the North East of England. The company serves a diverse range of industries, including: specialty chemicals, petrochemicals, oil and gas, fuel and lube additives, household and personal care, flavour and fragrance, agricultural chemicals and surface coatings. Chemoxy’s performance products include Estasol®, Coasol® and Chemoxycare®.
Novacap is an international player in the chemistry and pharmaceutical industry producing essential chemicals used in everyday products with a wide range of products in: Pharmaceutical & Cosmetics, Mineral Specialties and Performance Chemicals. The Novacap group enjoys leading positions in the pharmaceutical and healthcare industry, cosmetics & fragrances as well as food & feed, home care and environmental services and has acquired Chemoxy as it seeks to expand its Performance Chemicals division and geographical presence.
The synergies between Novacap and Chemoxy are striking – both have a culture of excellence, aiming to offer clients the best service, with a reactive flexible approach combined with reliability and a high level of compliance and certifications. The Directors of Chemoxy are especially delighted that Chemoxy is joining a family where the priorities include: social and corporate responsibility and environmental protection following Chemoxy’s success in achieving a silver Ecovadis award in 2017.
The acquisition will make Novacap a leading European player in solvents with a diversified, complementary portfolio of large scale and speciality solvents. Combining the two businesses creates a company with mutually beneficial expertise in developing new products, services and geographic markets.