Transaction Overview
The CABB Group has signed a definitive agreement to sell its US-based production site, Jayhawk Fine Chemicals Corporation, to Anupam Rasayan India Ltd for approximately $150 million. This transaction is expected to close in January, following the satisfaction of conditions precedent and customary closing actions.
Strategic Shift
This sale is a strategic move for CABB, allowing the company to focus on expanding its specialties portfolio in Pharma and Life Science, moving away from industrial applications, electronics, and semiconductors. Jayhawk has been a significant contributor to CABB's results since its acquisition in 2018, with steady revenue growth.
Anupam Rasayan's Expansion
Anupam Rasayan aims to strengthen its presence in the US and expand its performance materials business. The acquisition of Jayhawk will enable Anupam Rasayan to leverage complementary strengths, enhance its global presence, and deliver greater value to customers in sectors such as performance materials, aerospace, and electronics.
Jayhawk's Capabilities
Founded in 1941 and headquartered in Galena, Kansas, Jayhawk Fine Chemicals specializes in custom manufacturing of advanced intermediates, active ingredients, and high-performance materials. The company operates state-of-the-art multipurpose plants and R&D labs, executing complex chemistries like halogenation, oxidation, nitration, and phosphorus chemistry. Jayhawk generates about 65% of its revenue from performance materials, serving leading global companies in electronics, energy, infrastructure, aerospace, and polymers, primarily in US markets.
