New Delhi, Dec. 10 -- Anupam Rasayan India Ltd, which makes agrochemicals, polymers and other speciality chemicals, has agreed to acquire US-based Jayhawk Fine Chemicals LLC for $150 million (about Rs 1,348.6 crore).
Mumbai-listed Anupam Rasayan said it is buying Kansas-based Jayhawk at an enterprise value of $134 million as the deal amount includes cash and cash equivalents of $16 million on the US firm's balance sheet. It is acquiring Jayhawk from Germany-headquartered CABB Group GmbH.
The Indian company said it plans to invest about $40 million from its balance sheet in a combination of debt and internal accruals. In addition, a global investment management firm with assets under management of over $100 billion will contribute the remaining $110 million, Anupam Rasayan said without naming the investor.
The acquisition of Jayhawk, which manufactures life and crop science molecules, marks Gujarat-based Anupam Rasayan's entry into onshore manufacturing in the US and aligns with its global expansion strategy. Anupam Rasayan will retain the existing Jayhawk management and teams. Jayhawk recorded revenue of $78 million with an EBITDA margin of 19% in 2024.
The company said Jayhawk's established US operations and customer base provide it immediate access to key end-markets and leading multinational customers. The transaction will also help it to expand its polymer portfolio, adding high-value products that have critical applications across semiconductors and high-performance materials.
Separately, CABB Group said Jayhawk's sale is part of its strategy to shift from industrial applications, electronics and semiconductors and focus on expanding its specialties portfolio in pharmaceuticals and life science from its production sites in Switzerland, Germany and Finland.
Rothschild & Co. was the exclusive financial adviser to Anupam Rasayan while Shardul Amarchand Mangaldas was the legal adviser.
Published by HT Digital Content Services with permission from VC Circle.