Innospec Inc said on Monday that it had finalized the acquisition of QGP Química Geral, a leading specialty chemicals company headquartered in Brazil.
However, the company did not disclose any financial details regarding the agreement.
The acquisition of QGP is expected to add new surfactant and other specialty chemistries to Innospec’s global portfolio in key growth markets such as Agriculture.
Established in 1992, QGP Química Geral employs 300 people.
QGP will be integrated into Innospec’s Performance Chemicals business.
“We are very pleased to complete this acquisition. We have been highly impressed by QGP’s founders who have built a leading specialty chemical company backed by excellent customer service, innovation and technical support similar to our own. The product development and manufacturing capabilities of QGP complement every Performance Chemicals end-market that we serve including Personal Care, Agriculture, Home Care, Industrial Chemicals, Construction and Mining,” Patrick Williams, President and Chief Executive Officer of Innospec Inc, said in a press release.
“This acquisition aligns with our long-stated M&A focus to further strengthen our Performance Chemicals segment and add a manufacturing base in South America. Following this acquisition, we continue to have an extremely strong, debt-free balance sheet and remain well-positioned for additional M&A, consistent shareholder returns, and organic growth investments,” Williams added.
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