Elementis to acquire US personal care chemicals maker SummitReheis for $360 million
9:49 AM MDT | February 10, 2017 | Natasha Alperowicz
Elementis has entered into an agreement to acquire SummitReheis (Hugenot, New York) from an affiliate of One Rock Capital Partners for $360 million. SummitReheis produces a range of active ingredients and materials use in personal care, pharmaceutical and dental products. Its anti-perspirant actives business, which accounts for more than 60% of sales, is the global leader in this field and has long standing relationships with key consumer product companies across the Americas, Europe and Asia.
SummitReheis 2016 revenue is estimated at $134 million with EBITDA of approximately $28 million. The company’s primary manufacturing operations are in North America and Europe with approximately 70% of revenue derived from these markets. Elementis says the deal will expand its personal care business to approximately $200 million. The deal is expected to close in the second quarter following receipt of antitrust clearances in the US and Germany.
SummitReheis’ primary focus is the manufacture and sale of aluminum and zirconium based active ingredients for anti-perspirant products. In the pharma field, it produces active ingredients for indigestion and heartburn remedies and in the dental area it makes plasters, alloys, discs and molding materials that are used to make dental crowns, bridges, replacement teeth and in other applications.