Novopor Acquires FAR Chemical, Expands Specialty Chemical Platform
Novopor Advanced Science, an India-based Bain Capital company, has acquired Florida's FAR Chemical from CPS Performance Materials Group. Terms were not disclosed. This acquisition is a key step in Novopor's strategy to build an integrated specialty chemical platform, providing end-to-end solutions. FAR Chemical specializes in complex chemistries for markets like electronics and aerospace. This move continues Novopor's US expansion, following last year's acquisition of Pressure Chemical and a new pilot plant in India.
Novopor Advanced Science, an Indian company backed by Bain Capital and active in performance chemicals and material science, has announced the acquisition of FAR Chemical from CPS Performance Materials Group. While the financial terms of the deal were not disclosed, this acquisition marks a pivotal moment in Novopor's strategic objective to establish a fully integrated specialty chemical platform. This platform aims to provide comprehensive solutions to customers, covering everything from initial process development to full-scale commercial manufacturing.FAR Chemical, based in Florida, is highly regarded for its deep expertise in complex chemistries. The company specializes in offering custom and intricate specialty chemicals, catering to a diverse range of end-use markets including electronics, aerospace and defense, and coatings and adhesives. This latest move underscores Novopor's continued aggressive expansion within the United States market. It builds upon their prior acquisition of Pressure Chemical last year, a Pittsburgh-based specialist known for its work in specialty chemicals and high-pressure chemistry. Furthermore, Novopor has also recently inaugurated a new pilot plant in Visakhapatnam, India. This facility is designed to bridge the gap between early-stage research and development and commercial-scale production across various sectors, including agrochemicals, performance materials, and other specialty chemicals, reinforcing Novopor's global growth trajectory.