Nagase America Buys Fitz Chem
Nagase America, part of Japan’s Nagase Group, has acquired Fitz Chem, a specialty chemicals distributor headquartered in Itasca, Illinois, USA, for an undisclosed sum. Fitz Chem will become a wholly owned subsidiary of Nagase America but will retain its name.
With annual revenues of more than $60 million, Fitz Chem is focused on the coatings, adhesives, sealants and elastomer (CASE) markets, as well as the plastics and personal care segments in the central states of America.
“This acquisition allows Nagase to combine its technical expertise and existing supplier and customer relationships with those of Fitz Chem, creating opportunities for sustained growth in the US market,” commented Bradley Hilborn, director of sales & marketing at Nagase America.
Nagase said that the acquisition is a step towards implementing its vision of becoming one of the country’s leading specialty chemical distributors. To that end, it plans to continue exploring opportunities for growth in the US market, both organically and through further acquisitions.
The Japanese group, headquartered in both Tokyo and Osaka, is an importer/exporter and seller of chemicals, plastics, electronic materials, cosmetics and health foods with an increasing presence in China, India, Southeast Asia and the Middle East, among other regions.