Elementis, a global specialty chemicals company, has announced its acquisition of U.K.-based Alchemy Ingredients Limited for an enterprise value of $22 million on a cash-free, debt-free basis.
Alchemy develops sustainable rheology modifier ingredients for the personal care industry across a range of cosmetic and skin care applications. Its products offer natural, functional ingredient alternatives to replace synthetic raw materials in cosmetic formulations. Alchemy’s key technologies revolve predominantly around oil gelling and water gelling.
The acquisition brings new products and technologies to Elementis' portfolio, enhancing its expertise in formulation solutions and rheology. The move creates an opportunity to develop new sensory profiles and textures to enhance the group's cosmetic and skin care product range. Alchemy has a track record of strong organic growth, with FY25 revenue expected to reach more than $6 million with attractive margins.
