International Chemical Investors Group (ICIG), a privately owned industrial group focussing on mid-sized chemical and pharma businesses, has acquired a majority stake in Hyderabad-based Vasant Chemicals, an Indian company specializing in the production of specialty chemicals and pharma intermediates.

ICIG, which operates 42 production sites in Europe and the US with sales in excess of €4.6 billion, has acquired the stake in Vasant Chemicals from its promoter G.K.B Chowdary for an undisclosed sum. Chowdary remains a minority shareholder in the company. 

The company is set to be integrated into the WeylChem Group, the fine chemicals platform of ICIG.

This acquisition is a key component of WeylChem’s strategic initiative to expand its presence in the global specialty chemicals market.

This strategic alliance also marks a significant milestone in Vasant Chemical’s mission to expand its global footprint and enhance its value proposition for customers worldwide.

“By integrating the expertise, resources, and technologies of both companies, the acquisition aligns with our strategic goal to create long-term value for our customers, employees, and stakeholders,” said Dr Andreas Maier, CEO, WeylChem. “It allows WeylChem to directly participate in the fast-growing Indian market and adds a manufacturing and distribution base in Asia.”

Vasant Chemicals, with over 40 years of expertise, has manufacturing facilities in Hyderabad (Jeedimetla) and Visakhapatnam (Atchutapuram). It specializes in the production of specialty chemicals and pharmaceutical intermediates and exports its products under long-term contractual agreements.

Ambit Pvt. Ltd. acted as the exclusive financial advisor to Vasant Chemicals for this transaction.