W. R. Grace & Co. completes its acquisition of the Fine Chemistry Services business (FCS) of Albemarle Corporation for approximately $570 million, including $300 million paid in cash and $270 million funded through the issuance to Albemarle of non-participating preferred equity of a newly created Grace subsidiary, according to the company.
“FCS builds on the strengths of our materials technologies portfolio by expanding our expertise and offerings and further deepens our position in high growth pharma markets such as oncology, diabetes, cardiovascular and antiviral,” says Sandra Wisniewski, president, Grace Materials Technologies.
Pharma & Consumer is the largest, fastest growing and most profitable subsegment within Grace’s Materials Technologies business, according to the company. FCS reportedly adds a comprehensive portfolio of high-value products and services with highly complementary analytical, regulatory and manufacturing capabilities to Grace’s existing pharma portfolio focused on chromatographic resins, formulation excipients and drug delivery, pharmaceutical intermediates and active pharmaceutical ingredients.
For more information, visit: www.grace.com
