FTSE250 chemical company on acquisition spree with two international takeovers
Chemical firm Croda International has completed two technology acquisitions which it says is in line with its strategy of investing in “disruptive technologies, clever people and rich intellectual property”.
These latest deals by the Goole-based business, which makes, creates and sells speciality chemicals for some of the biggest brands in the world, brings the number of technology acquisitions and co-investments completed in the last 12 months to four.
Croda has swooped for Nautilus Biosciences Canada, a technology-rich marine biotechnology company based in Charlottetown.
Croda and Nautilus have already worked together for the past six years developing specific applications for skin care and hair care, as well as crop care.
Croda has also acquired IonPhasE, a technology supplier of static electricity protection products, headquartered in Tampere, Finland.
Operating in some of the fastest growing segments within the plastics market, IonPhasE has developed a range of anti-static additives that help to prevent damage to electrical components, increase the safety of chemical and food packaging and improve the long-term appearance of consumer appliances.
These acquisitions follow the purchase of Enza Biotech AB in July 2017, a research enterprise in Sweden aiming to develop the next generation of renewable surfactants, together with an investment in Cutitronics, a UK technology based innovator of personalised, adaptive skin care.
Steve Foots, chief executive of Croda, said: “These acquisitions are very much aligned to our strategy of investing in disruptive technologies, clever people and rich intellectual property. With Nautilus as part of the Croda group, we further expand our expertise in biotechnology; the Nautilus team that will join us have extensive knowledge and expertise in marine biotechnology, also known as “blue biotechnology”. The experience and knowledge of the IonPhasE management team, coupled with our innovation strength, global sales reach and complementary technologies, will allow us to better meet the needs of our customers within our Smart Materials business within the Performance Technologies sector.”