Safic-Alcan, a distributor of specialty chemicals, acquires 100% of Rit-Chem Co., Inc. a boutique chemical distributor specializing in the performance and life science sectors in the USA.
Rit-Chem will become part of the Chemspec organization in the USA, the American affiliate of the Safic-Alcan Group.
Acquisition to Complement Chemspec’s Activities
Rit-Chem started initially supplying specialty chemicals to the paint and coatings manufacturers, before diversifying in fields such as adhesive and sealants, rubber, plastic and food/feed.
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The acquisition of Rit-chem is a step forward for Safic-Alcan’s ambitions in North America, and will complement perfectly Chemspec’s current activities,” said Yann Lissillour, head of mergers and acquisitions for Safic-Alcan Group.
Rit-Chem represents key market leaders and also successfully promotes their own branded product lines, very much in line with Safic-Alcan modus operandi. Whilst their focus is the North American market, their sales expand to the four corners of the globe.
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The Ritell’s second generation will remain, ensuring a smooth transition, and the Chemspec family is looking forward to welcoming officially Bruce, Gary and Wayne to the team, as well as the other Rit-Chem employees,” said Dave Moreland, president and CEO of ChemSpec.
Source: Safic-Alcan