Evonik Industries AG is one of the world’s leading specialty chemicals companies. Its affiliate Evonik Jayhawk Fine Chemicals Corporation offers a wide range of toll- and custom-manufacturing services based on extensive process development capabilities, as well as a broad portfolio of made-to-order products. Founded in 1941 in Galena, Kansas, Jayhawk entered the Evonik fold in 2001.
Acquisition of Evonik Jayhawk Fine Chemicals
On 30 August 2018, global investment firm Permira announced that a company backed by its fund had entered into a definitive agreement with Evonik to acquire Jayhawk for an amount valued in the high double-digit million USD range. Caspar Gammelin, Head of the Evonik segment Performance Materials, said:
“Jayhawk has highly skilled employees, well-developed facilities and long-standing customer relationships. Under the new owner, these strengths can be leveraged even more effectively.”
Permira was founded in 1985 and now advises firms with a total committed capital of approximately €32 billion. The firm is renowned for successful capital investments into industrial companies with the objective of transforming their performance and driving sustainable growth. Following their purchase of the European fine chemicals company CABB, cooperation between CABB and Jayhawk is expected to generate significant future opportunities for both companies.
CABB and Jayhawk intend to form a strategic partnership to strengthen the competitive position of both companies and to symbiotically accelerate growth. Sebastian Hoffmann, Principal and member of the Industrials Team at Permira, said:
“We are looking forward to successfully growing the Jayhawk business further. Together, CABB and Jayhawk will provide a seamless transatlantic product and service offering, which will benefit existing and prospective clients of both companies through a broader geographic reach and further enhanced custom manufacturing solutions.”
The transaction, which is subject to regulatory approvals, is expected to close by the end of 2018. If you would like any more information about the new opportunities that the acquisition represents for fine chemical custom manufacturing with Jayhawk, please do not hesitate to contact us.