Speciality chemicals maker Elementis has acquired fellow UK personal care specialist Alchemy Ingredients for $22m on a cash-free, debt-free basis.
Alchemy develops rheology modifier ingredients for the personal care industry across a range of cosmetics and skin care applications with forecasted 2025 revenue of around $6m.
Based in Ascot with 20 employees, the English company’s products are natural functional ingredients that fully or partially replace synthetic raw materials in cosmetic formulations.
Alchemy’s key technologies revolve predominantly around oil gelling - with the Sucragel and Sapogel families of products - and water gelling (Clearthix and Sclerothix).
Elementis’ personal care business manufactures natural and synthetic rheology modifiers to deliver premium product performance for personal care applications in skin care and cosmetics, as well as active ingredients for antiperspirants.
Elementis said Alchemy is a “strong fit” as it “brings exciting new products and technologies that are complementary to our portfolio, further enhancing our expertise in formulation solutions and rheology, and which are highly synergistic with our hectorite products.
“These will help to create new sensory profiles and textures to enhance the Group’s cosmetic and skin care product range,” said a spokeswoman.
“Elementis will enable Alchemy to build on its success to date by leveraging its global sales and distribution network alongside its complementary technology and application knowledge,” she added.
The acquisition of Alchemy is consistent with its Elevate Elementis strategy, which seeks to make disciplined, high-quality bolt-on acquisitions to further strengthen the group’s core specialty additives capabilities and accelerate sustainable long-term growth.
Luc van Ravenstein, CEO of Elementis, said: “We are delighted to announce the successful completion of this high quality bolt-on acquisition, which is right in our personal care sweet spot and strengthens our position in the growing natural skin care market.
“The business opens exciting opportunities to expand our skin care portfolio, where the trend toward natural ingredients and enhanced sensory benefits continues to accelerate.
“Leveraging our global sales and marketing footprint, we see significant potential to scale the business and deliver value.”
