Aceto, a leading virtual manufacturer of specialty materials for life sciences, nutrition, agricultural, and advanced technology end markets and a New Mountain Capital portfolio company, announced its acquisition of Syntor Fine Chemicals today. Syntor is an asset-light manufacturer of fine chemicals for pharmaceutical and other life sciences end markets.
“The acquisition of Syntor is an important step in Aceto’s strategic growth plan,” said Gilles Cottier, Chief Executive Officer of Aceto. “Syntor’s synthesis and formulation capabilities enhance Aceto’s existing services and expand our value-added offerings in life sciences materials. With the addition of Syntor’s technical team, we can provide greater product customization in addition to supplying our current offering of high quality, specialty materials.”
“We are very pleased and excited about our partnership with Aceto,” said Simon Knowles, Managing Partner of Syntor. “The two companies are well aligned in their culture and drive to maximize value to customers through sourcing and development of complex chemistries. We believe Syntor will thrive with the support of Aceto’s global infrastructure and we look forward to contributing to the next stage of growth for the combined company.”
Andre Moura, a Managing Director at New Mountain Capital, commented, “The acquisition of Syntor represents significant progress in New Mountain’s strategic plan for Aceto, as the company continues its track record of growth both organically and through acquisition. The partnership creates significant cross-sell opportunities that benefit customers and supply partners to both businesses.”
Rakesh Sachdev, Chairman of Aceto and Senior Advisor at New Mountain Capital, added, “Syntor brings a portfolio of exciting, proprietary products, developed in-house for many blue-chip customers in the life sciences, pharmaceutical, agrochemical, aroma and electronics industries. We expect Syntor’s product leadership to accelerate as Syntor leverages Aceto’s global partnerships with customers and suppliers.”
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Syntor will operate under the name “Syntor by Aceto,” and it is intended that all employees will be retained in their current roles. The combined entity will leverage the increased scale of Syntor and Aceto to provide enhanced value to customers.
Aceto and New Mountain Capital are receiving legal counsel from Freshfields Bruckhaus Deringer, LLP. Ward Hadaway, LLP is serving as legal counsel to Syntor Fine Chemicals.
Source: Biospace
