Anupam Rasayan completes acquisition of US-based Jayhawk Fine Chemicals Corporation

Specialty Chemicals company Anupam Rasayan has said that it completed the acquisition of Jayhawk Fine Chemicals Corporation, a US-based specialty chemical company, for $150 million [~₹1,388 crore] through its wholly-owned, Luxembourg-based subsidiary Doriath.

The acquisition was made by Doriath, through payment of $109 million by issuing Class B non-voting shares. Doriath has also borrowed $41 million.

Doriath’s acquisition was, in turn, financed through the following sources: $129 million funded by Altis XII, which is linked to Oaktree Capital Management, an investment manager. And another $21 million paid from loans raised from Axis Bank. Last week the company accepted a loan of up to $30 million from Axis Bank when it said that it intends to use the entire amount.

The company had earlier said that it had acquired a credit facility of $20 million from Altis XII, which is based in Singapore.

Founded in 1941 and headquartered in Galena, Kansas, USA, Jayhawk operates a manufacturing site equipped with multipurpose plants, pilot facilities, and R&D labs capable of executing chemistries including halogenation, oxidation, nitration, and phosphorus chemistry. The company has a legacy spanning over eight decades, and generates ~65 per cent of its revenue from performance materials, with a majority of revenue coming from the US markets.

Anand Desai, Managing Director, Anupam Rasayan, said, “Together, we are building a globally diversified specialty chemicals platform with complementary chemistries, expanded geographic reach and deeper customer engagement. We believe this platform approach will unlock cross-selling opportunities, enhance technological capabilities, improve operational synergies and drive sustainable long-term value creation for all our stakeholders.”

Rothschild & Co acted as the exclusive financial advisor to Anupam Rasayan while Piper Sandler acted as the exclusive financial advisor to the CABB Group.