Anupam Rasayan Completes $150M Acquisition of US Firm Jayhawk Fine Chemicals
Anupam Rasayan India Ltd. has completed the acquisition of 100% equity in U.S.-based Jayhawk Fine Chemicals for approximately US$150 million (~₹1245 crore). The deal is financed through equity and debt, with significant funding from Oaktree Capital Management and Axis Bank. The acquisition is expected to be EPS accretive and enhance ARIL's global footprint.
The acquisition of a U.S.-based company for a significant amount (US$150 million) represents a major strategic move that will expand the company's global footprint, product offerings, and customer base, thereby having a high impact on its future growth and market position.
The acquisition of a strategic company like Jayhawk Fine Chemicals is a positive development for Anupam Rasayan India Limited, indicating growth and expansion into new markets, which is expected to be EPS accretive.
Anupam Rasayan India Limited (ARIL) has announced the successful completion of its acquisition of 100% equity stake in Jayhawk Fine Chemicals Corporation (Jayhawk), a U.S.-based specialty chemical company and part of the CABB group. The transaction, valued at approximately US$150 million (₹1245 crore), was executed through ARIL's wholly owned subsidiary, Doriath S.à r.l.
The purchase consideration was financed through a combination of US$109 million (₹905 crore) via the issuance of Class B non-voting shares by Doriath S.à r.l. and US$41 million (₹340 crore) through debt. Further funding details indicate US$129 million (₹1071 crore) was funded by Altis XII Pte. Ltd., an affiliate of Oaktree Capital Management, and US$21 million (₹174 crore) was provided by Axis Bank.
Jayhawk, founded in 1941 and headquartered in Galena, Kansas, USA, specializes in the custom manufacturing of advanced intermediates, active ingredients, and high-performance materials. The company operates a manufacturing site with advanced multipurpose plants and R&D facilities, capable of complex chemistries. Approximately 65% of Jayhawk's revenue is derived from performance materials, serving key global sectors including electronics, energy & infrastructure, aerospace, and polymers, with a majority of revenue originating from U.S. markets.
Anand Desai, Managing Director of Anupam Rasayan India Ltd., stated that this acquisition is a significant milestone in the company's strategy to build a differentiated, innovation-led global specialty chemicals platform. He highlighted that the move will enable ARIL to move further up the value chain, manufacturing key N-1 molecules for critical sectors. The integration of Jayhawk's U.S. operations is expected to strengthen ARIL's global footprint and position it closer to strategic customers in developed markets. Desai also emphasized the creation of a strong integrated platform combining Tanfac Industries, Anupam Rasayan, and Jayhawk, which is expected to unlock cross-selling opportunities, enhance technological capabilities, improve operational synergies, and drive sustainable long-term value creation.
The acquisition is expected to be EPS accretive and will be fully consolidated with Anupam Rasayan. Rothschild & Co acted as the exclusive financial advisor to Anupam Rasayan India Ltd., while Piper Sandler advised the CABB Group.
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