Anupam Rasayan India Ltd., a custom synthesis manufacturer of speciality chemicals, has announced the signing of a definitive agreement to acquire a 100% equity stake in Jayhawk Fine Chemicals Corporation, a US-based speciality chemical company and part of CABB Group, for a purchase consideration of $150 million.

The $150 million figure includes payment for Jayhawk's equity value and existing loans to exiting shareholders (CABB Group). The enterprise value of the deal is approximately $134 million, accounting for around $16 million in cash and cash-like items held by Jayhawk.

The acquisition will be financed through a mix of internal accruals, debt and quasi equity from a leading global investment management firm with an AUM in excess of $100 billion. This acquisition shall be EPS accretive for Anupam.

This acquisition represents a transformative step in Anupam Rasayan’s long-term strategy to expand its global CDMO presence and establish a strong foothold in the U.S. & global specialty chemicals market.

This acquisition marks Anupam’s entry into onshore manufacturing in the United States, aligning perfectly with the company’s global expansion strategy.

Jayhawk’s established U.S. operations and customer base provides Anupam an immediate access to key end-markets and leading multinational customers, significantly enhancing its global reach and visibility.

The transaction is a major leap in Anupam’s polymer portfolio expansion, adding high-value dianhydrides and polyimide intermediates to its offering. These products have critical applications across semiconductors and high-performance materials, positioning Anupam as a well-positioned integrated player in this fast-growing segment.

Over the past few years, Anupam has systematically strengthened the value chain — starting with acquisition of Tanfac, which secured raw material sourcing and ensured backward integration, particularly in fluorination chemistry.

Now, with Jayhawk, Anupam moves forward in the value chain, closer to the end applications, manufacturing key N-1 molecules for critical sectors. The combination of Jayhawk’s advanced product portfolio and Anupam’s deep process expertise allows for forward integration across key molecules, enabling new downstream opportunities.

This acquisition also opens doors to a new set of global customers while strengthening relationships with existing ones through cross-selling and integrated solutions.

The synergy between Jayhawk’s technologically advanced operations and Anupam’s cost-efficient, backward-integrated manufacturing base in India creates a powerful dual-site model. This will provide global customers with the flexibility of localized production in the U.S.

state-of-the-art R&D and analytical facilities, combined with Anupam’s strong process chemistry and scale-up capabilities, will accelerate joint innovation, shorten development timelines and enhance value delivery for global customers. 

Commenting on the acquisition, Anand Desai, Managing Director, Anupam Rasayan India Ltd., said, “This acquisition is a transformative step in Anupam’s global journey. Jayhawk brings to us a legacy of innovation, deep customer relationships, and a strong technology platform in high-value chemistries. Together, we will leverage our complementary strengths to accelerate growth, enhance our global presence, and deliver greater value to customers across key sectors such as aviation, semiconductors and electronics. Now, with Jayhawk, we move forward in the value chain, closer to the end applications, manufacturing key N-1 molecules for these critical sectors. The addition of Jayhawk’s U.S. operations significantly strengthens our global footprint and positions us closer to strategic customers in developed markets.”

About the signing, Tobias Schalow, CEO, CABB Group, said “This transaction marks a strategic step for our company, and we have made this decision with the utmost confidence and trust in the new owner. We have developed a scalable growth platform in Pharma and Life Science specialties, which we will further develop and expand, and shift away from industrial applications, electronics and semiconductors with this transaction. We are certain that Anupam Rasayan is perfectly positioned for long-term growth with the Jayhawk team, and we wish them success as they embark on this new chapter. On behalf of the CABB Group, I would like to express my deepest gratitude to the dedicated and highly skilled team at Jayhawk. Their commitment over the past years has been a cornerstone of our success.”