Anupam Rasayan Acquires Jayhawk for $150M

New Delhi, Dec 9 (PTI) Anupam Rasayan India on Tuesday said it has agreed to acquire the entire stake of Jayhawk Fine Chemicals Corporation, a US-based specialty chemical company, for about USD 150 million.

The purchase consideration accounts for the payment against the equity value of Jayhawk and existing loans payable to the exiting shareholders, Anupam Rasayan said in a statement.

Accounting for about USD 16 million of cash and cash-like items for Jayhawk as of June, the purchase consideration translates to an enterprise value of about USD 134 million, the company said.

Jayhawk, part of the CABB group, posted revenues and adjusted EBITDA of about USD 78 million and USD 15 million, respectively in 2024.

The acquisition will be financed through a mix of internal accruals, debt and quasi equity from a global investment management firm with assets under management exceeding USD 100 billion, Anupam Rasayan said.

The deal marks Anupam Rasayan's entry into onshore manufacturing in the United States and expands its polymer portfolio to include high-value dianhydrides and polyimide intermediates used in semiconductors and high-performance materials.

"This acquisition is a transformative step in Anupam's global journey," the company's Managing Director Anand Desai said in the statement.

Tobias Schalow, CEO of CABB Group, said the transaction marks a strategic shift for the company away from industrial applications, electronics and semiconductors.