Vertellus Acquires Dow’s Sodium Borohydride Business
Acquisition expands Vertellus’ product offerings to pharmaceutical, agrochemical, and industrial sectors
Vertellus has signed a definitive agreement to acquire the sodium borohydride (“SBH”) business, including associated assets, from the Dow Chemical Company. Vertellus is a portfolio company of Chicago-based private equity firm Wind Point Partners. Wind Point acquired Vertellus in partnership with CEO Rich Preziotti.
The SBH Business is a manufacturer of sodium borohydride used in the synthesis of fine chemicals such as pharmaceutical ingredients and agrochemicals. Sodium borohydride is predominantly used as a critical synthesis and process aid in the production of a wide variety of active pharmaceutical ingredients including high growth antiretrovirals for the treatment of HIV/AIDS. It is also used in bleaching applications, such as mechanical wood pulping for newspaper and tissue production.
The acquisition accelerates Vertellus’ strategy to expand its product offerings in the life science sector through both organic growth and strategic acquisitions. Revenues from life science applications represent more than 65 percent of the company’s total revenue, and Vertellus expects the acquisition will significantly increase its ability to provide tailored solutions to the pharmaceutical and agriculture sector.
Planning to transition the SBH business into Vertellus is underway. The transaction is expected to close in the first quarter of 2015.
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