Sudarshan Chemical Industries Limited (SCIL) has entered into a definitive agreement with the Germany-based Heubach Group, on its acquisition in a combination of an asset and share deal.
SCIL says this strategic acquisition will create a global pigment company, combining its operations and expertise with Heubach’s technological capabilities.
Post-acquisition, the combined company will have a broad pigment portfolio of products and a strong presence in major markets including Europe and the Americas. It will enhance SCIL’s product portfolio, giving it access to customers and a diversified asset footprint across 19 sites globally. Sudarshan’s managing director Rajesh Rathi will lead the combined company.
Commenting on the transaction, Rathi said, “we are delighted with this transaction that brings together two businesses that will cater to major global markets. We will carefully integrate these two companies to create a truly global pigments company, with Frankfurt remaining a strategically important location. SCIL is known for its agility and efficiency, and we will embed this culture throughout the combined company to make it one of the most customer-centric and profitable pigment companies.”
The acquisition is expected to close in 3-4 months, subject to the satisfaction of customary closing conditions, including approvals from regulators and SCIL shareholders.