September 28 2021, David R Brown
Safic-Alcan acquires North American specialty chemical distributor, Rit-Chem
Safic-Alcan, a major distributor of specialty chemicals, has acquired 100% of Rit-Chem Co., Inc. a specialist chemical distributor focused on the performance and life science sectors in the USA. Established in 1972 by Henry Ritell and headquartered in New York, Rit-Chem started initially supplying specialty chemicals to the paint and coatings manufacturers, before diversifying in fields such as rubber, plastic and food/feed.
The acquisition of Rit-chem is a strong step forward for our ambitions in North America, and will complement perfectly ChemSpecs current activitiesYann Lissillour
Head of Mergers and Acquisitions for Safic-Alcan Group
“The acquisition of Rit-chem is a strong step forward for our ambitions in North America, and will complement perfectly ChemSpecs current activities” stated Yann Lissillour, Head of Mergers and Acquisitions for Safic-Alcan Group.
Rit-Chem represents key market leaders and also successfully promotes their own branded product lines, very much in line with Safic-Alcan modus operandi. The company maintains a network of 5 strategically located warehouses and whilst their focus is the North American market, Rit-Chem has sales in over 15 countries.
“The Ritell's second generation will remain, ensuring a smooth transition, and the ChemSpec family is looking forward to welcome officially Bruce, Gary and Wayne to the team, as well as the other Rit-Chem employees”, commented Dave Moreland, President and CEO of ChemSpec.
Rit-Chem will become part of the ChemSpec organization in the USA, the American affiliate of the Safic-Alcan Group.
Safic-Alcan is a French independent distributor of specialty chemicals headquartered in Paris La Défense (France). The Company develops and provides wide ranges of polymers, materials and additives for the rubber, coatings, adhesives, thermoplastics, polyurethane, lubricants, detergency, cosmetics, pharmaceuticals and nutraceuticals industries. With a network of 30 offices strategically located in EMEA, Asia and North America, the company represents state-of-the art manufacturers around the world. Its highly specialized sales engineers allow Safic-Alcan to provide dedicated technical expertise and high-performance solutions thus creating long term partnership with most of its principals and customers. Safic-Alcan employs 644 people worldwide and generated a turnover of EUR 602M in 2020.
Source(s): Azelis Press Release