Elementis buys Alchemy Ingredients for $22m

(Sharecast News) - Global specialty chemicals company Elementis said it had bought UK based Alchemy Ingredients for an enterprise value of $22m on a cash-and-debt-free basis. Alchemy develops sustainable rheology modifier ingredients for the personal care industry across a range of cosmetics and skin care applications, Elementis said in a statement on Wednesday.

"Alchemy is a strong fit for Elementis. It brings exciting new products and technologies that are complementary to our portfolio, further enhancing our expertise in formulation solutions and rheology, and which are highly synergistic with our hectorite products," it added.

Reporting by Frank Prenesti for Sharecast.com

Revenues at Alchemy are expected to reach more than $6m in 2025.