Charkit has acquired the assets of ChayseChem, Inc., a distributor of fine chemicals and custom manufactured intermediates and APIs.
Among ChayseChem’s distribution clients is Framochem KFT, a Hungarian-based Vandemark company that specializes in the manufacture of a wide range of phosgene derivatives including acid chlorides, carbonates and other fine chemicals. The acquisition grants Charkit North American distribution rights for Framochem products and other materials represented by ChayseChem, along with access to ChayseChem’s ISO9001-certified custom API manufacturing services.
As a component of the acquisition, ChayseChem’s former vice president of business development Chris Klumph will join Charkit’s sales organization. He will provide sales support for both the existing Charkit product library and the new products and services
Charkit president Charles Hinnant stated: "This acquisition, along with new supplier relationships, is further evidence of how our expansion forms the cornerstone of the LBB Specialties growth strategy. We are looking for companies that would fall into the 'tuck-in' category (up to $50 m), as well as larger businesses in the range of $100 m, which would become platform companies along with Charkit and AIC. Of particular interest are companies with a large brand identity and owners who are not quite ready to retire and want to manage the growth of their individual brands under the auspices of LBB."