Charkit Acquires Assets of ChayseChem, Inc. Agreement adds Framochem KFT products and more to the Charkit Portfolio
By Jennifer Gilbert
Norwalk, Connecticut, July 12, 2018– Charles Hinnant, President, Charkit Chemical Company of Norwalk, CT, a subsidiary of LBB Specialties LLC, announced that Charkit has acquired the assets of ChayseChem, Inc., a North American distributor of fine chemicals and custom manufactured intermediates and APIs.
ChayseChem, recognized as a leading supplier of fine chemical intermediates to the life science, agrochemical and specialty chemical industries, was established in 2010 as a privately held distributor representing manufacturing partners in the U.S., Canada, Mexico, and Puerto Rico. Since that time, ChayseChem has served as a distributor for Framochem KFT, a Hungarian-based Vandemark company that specializes in the manufacture of a wide range of phosgene derivatives, including acid chlorides, carbonates, and other fine chemicals. With this transaction, Charkit has acquired the North American distribution rights for Framochem products and other materials represented by ChayseChem, as well as access to ChayseChem’s ISO9001-certified custom API manufacturing services.
In conjunction with the acquisition, Chris Klumph, formerly Vice President of Business Development at ChayseChem, will be joining the Charkit sales organization. Chris will be providing sales support for both the existing Charkit product library and the new products and services added by the ChayseChem acquisition.
Mr. Hinnant, who is also the CEO and President of LBB Specialties, stated, “This acquisition, along with new supplier relationships, is further evidence of how our expansion forms the cornerstone of the LBB Specialties growth strategy. We are looking for companies that would fall into the “tuck-in” category (up to $50m), as well as larger businesses in the range of $100m which would become platform companies along with Charkit and AIC. Of particular interest are companies with a large brand identity and owners who are not quite ready to retire and want to manage the growth of their individual brands under the auspices of LBB.”