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  • December 17th, 2012

Uni-World and Brightwood Acquire VanDeMark Chemical Inc.

Uni-World and Brightwood Acquire VanDeMark Chemical Inc.

Firms to Build Established Specialty Chemicals Business

 New York, December 11, 2012 – Uni-World Capital L.P., a private equity firm, and Brightwood Capital Advisors LLC, a private investment firm, on November 30th jointly acquired VanDeMark Chemical Inc., Lockport, NY, a leading global producer of specialty, intermediate, and catalyst chemicals based on phosgenation chemistry.  Brightwood also provided mezzanine financing to VanDeMark.  The transaction was sourced through Sidereal Capital, which also invested in the equity and will appoint a director to the company.

VanDeMark, which has produced phosgene and phosgene derivatives since 1951, offers a range of more than 30 chemical compounds used in the production of paints and coatings, pharmaceuticals, plastics and polymers, adhesives and sealants, agricultural products and other end markets. (more…)

KEMIRA OY : j sells ChemSolutions’ food and pharmaceutical businesses to Niacet Corporation

Kemira Oyj signed an agreement today to sell its food and pharmaceutical businesses together with its acetate based chemicals business to Niacet (Niagara Falls, USA). These businesses are a part of Kemira’s ChemSolutions segment. All shares of Kemira ChemSolutions BV, including the manufacturing site in Tiel (NL), will be transferred from Kemira Oyj to Niacet Corp. The other businesses of the ChemSolutions segment, including the chemical, feed and de-icing business, which are linked to Kemira’s formic acid production in Oulu (Finland), will stay within Kemira.

The businesses sold have a combined revenue of approximately EUR 50 million. 90 employees will be transferred to Niacet as part of the transaction which is expected to close on January 31, 2013.

The agreed transaction price is EUR 82 million and will impact Kemira’s cash flow positively in the first quarter of 2013. Kemira will undertake a non-recurring write-down related to the transaction of approximately EUR 18 million, impacting Kemira’s reported EBIT in the fourth quarter of 2012.

– In accordance with its strategy, Kemira focuses on products and applications for water quality and quantity management. ChemSolutions’s food, pharmaceutical and acetate based chemicals businesses are not part of our core business. There are more synergies for these businesses with Niacet’s current portfolio and Niacet is committed to develop the business further, said Wolfgang Büchele, Kemira’s President and CEO.

– We are currently a leading producer of propionates and acetates in the US focusing on the bakery and pharmaceuticals industry. The agreed deal fits perfectly into our strategy to become a global player in the chosen industries. This is a very exciting opportunity for Niacet and we believe it will position us for continued success and growth both in Niagara Falls and at our new facility in the Netherlands, once the agreement is finalized, said Kelly Brannen, Co-Managing Director of Niacet. To assure a seamless transition for customers and to welcome the Tiel employees to the Niacet family, Larry Montani, Co-Managing Director of Niacet, will relocate to Tiel.

For more information, please contact

Kemira Oyj
Frank Wegener, President, ChemSolutions
Tel. +31 344 63 91 10

Matti Lapinleimu, VP, M&A
Tel. +358 10 862 1786

Tero Huovinen, Director, Investor Relations
Tel. +358 10 862 1980

Niacet Corporation
Earl Wells, e3communications
Tel. +1 716 553 5225

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