Previously, the company said of the acquisition that it is intended to expand Innospec’s product line when it comes to surfactants, the ingredient group that allows products to lather and reduces friction between two substances.
“We were always aware that in order to fulfil our vision to ‘take up more space in the bottle’ of cosmetics and toiletries we must meet a wider range of customer needs,” commented Samantha Thistleton, marketing manager of Innospec Performance Chemicals.
Integration into ‘performance chemicals
The newly acquired business is currently managed from Belgium, and has manufacturing assets in France, Italy and Spain. With sales revenues of around $230 million, the business employs approximately 430 people, Innospec explains.
“Innospec will integrate the acquisition into its Performance Chemicals business. The chemistries and products that the acquisition bring are entirely complementary to Innospec’s existing portfolio offering formulators both choice and expertise across the range of personal care and home care surfactant technologies.”
The move marks a decisive step further into the personal care sector for the chemicals company, with Patrick S. Williams, president and CEO, voicing his enthusiasm regarding the finalised acquisition.
“We are very pleased that the acquisition has been completed, and in a relatively short time for such a complex project,” he said.
“This delivers on our commitment to build a larger Performance Chemicals segment and creates a balanced portfolio of strategic businesses under Innospec’s ownership. We enter 2017 in good shape to continue to grow, and deliver value to customers, employees and shareholders.”
Bruce McDonald, President of Performance Chemicals at Innospec, added: “We are delighted to welcome the new employees to Innospec, and we look forward to working with our customers and offering a much wider range of products and technologies.”