US giant Aceto Chemicals has bought a developer and manufacturer of fine chemicals, based in Cheshire.
Runcorn’s Syntor Fine Chemicals has been acquired by the leading global virtual manufacturer supplying niche, speciality materials in life sciences and advanced technology markets. Syntor distributes over 1,100 chemical compounds used principally by the pharmaceutical, nutraceutical, agricultural, and speciality chemical industries.
Syntor was established in 2004 and was privately owned by shareholders, Simon Knowles and Andy Kellett.
Aceto, which was acquired by New York-based investment firm New Mountain Capital in April last year, has operations in nine countries.
New Mountain Capital now has over $20bn in assets under management.
Top 100 law firm, Manchester based Ward Hadaway, acted as legal advisors for Syntor, led by corporate team partner Melanie Yeomans and supported by Mona Mojtabavi and Hollie Walsh. The firm has a long-standing relationship with the shareholders having advised them on their MBO in 2016.
Melanie Yeomans said: “It’s been my pleasure to work with Simon, Andy and Syntor over the years and to see them take the business from strength to strength since the MBO we advised on in 2016. A satisfying part of our role as lawyers is working with a company as it grows and develops through its life cycle and I’m delighted for both of them on achieving this successful exit. We wish them and Aceto much success in the future as the Syntor business continues its journey.”
Commenting on the sale, Simon Knowles, said; “From the original MBO in late 2016 Mel and her team at Ward Hadaway have guided us through every step of our journey; true professionals and a pleasure to work with.”
Audit, tax and consulting firm RSM also supported the sale, led by corporate finance partner John Gillibrand with support from Nick Wyatt and James Jarvis.