September 3, 2013 – CIM Partners has advised Chemsil Silicones Inc. and its affiliated company, Chemtec Chemical Co., on the sale to Innospec Inc. (NASDAQ: IOSP). The terms of the transactions were not disclosed.
Chemsil (www.chemsil.com) develops and markets silicone-based formulations to the personal care industry. Chemtec (www.chemteccc.com), which distributes a wide range of personal care ingredients, is focused on customers on the West Coast. The companies have combined annual sales of over $40 million.
Innospec Inc. is an international specialty chemicals company with approximately 900 employees in 20 countries. Innospec manufactures and supplies a wide range of specialty chemicals to markets in the Americas, Europe, the Middle East, Africa and Asia-Pacific. Innospec’s Fuel Specialties business specializes in manufacturing and supplying the fuel additives that help improve fuel efficiency, boost engine performance and reduce harmful emissions. Innospec’s Performance Chemicals business provides effective technology-based solutions for our customers’ processes or products focused in the Personal Care; Polymers; and Fragrance Ingredients markets. Innospec’s Octane Additives business is the world’s only producer of tetra ethyl lead. More information regarding Innospec can be found on www.innospecinc.com.