TAGS: Epoxy Adhesives Polyurethane Adhesives
Everchem, a North American specialty chemical supplier providing formulated solutions and raw materials for the urethane and epoxy markets, has acquired Specialty Products International (SPI). SPI has an extensive product catalog in the urethane specialty additives market. The official announcement from Everchem was made on July 24 at 8 a.m. EDST.
Acquisition Aligned with Everchem’s Commercial Strategies
The move to acquire Specialty Products International first started in September 2022 as both company principles – David Patten, chief executive officer/chief financial officer Everchem and Ed Galla, president of Specialty Products International – realized that SPI’s unique product line of solution-based catalyst and additive technologies aligned well with Everchem’s commercial strategies.
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Never did I realize when SPI started up 30 years ago, with our objectives of improving customers’ operations and helping customers capitalize on opportunities, that SPI would be as large and successful as it is today. Based on SPI’s positions in polyurethane additives and specialty chemicals, Everchem is a natural partner to continue and expand on the ‘SPI Dedicated to our Customers’ tradition under the Everchem name. Everchem will be supplying the same products, technologies, and services that SPI’s customers have been accustomed to for decades,” said Ed Galla.
Solutions-based Chemical Technology for PU Markets
The Everchem strategy for growth continues to build momentum with our customer centric specialty chemical supplier model.
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The acquisition of the SPI business is part of our larger goals bringing highly valued, solutions based chemical technology to the vast polyurethane markets,” said Del Felter, vice president market and business development. “
The SPI additive technologies product line coupled with their unique applications expands the Everchem customer base and provides additional product placement opportunities for our existing customers.”
The deal was signed June 26 as both companies strive to make a seamless transfer of assets during the next 60 days.
Source: Everchem