ESIM Completes Sale of IM Unit to Vertellus
Based in the Linz Chemical Park, ESIM, with currently 500 employees, already regards itself as one of the top three international suppliers of highly complex molecules for a broad range of applications. Vertellus, with headquarters in Indianapolis, Indiana, and a workforce of over 1,000, supplies customers worldwide from its 10 international manufacturing facilities.
Both players are owned by private equity investors. ESIM is in the hands of Sun European Partners, and Vertellus belongs to Pritzker Private Capital, along with its management. In June this year, the two companies signed a definitive agreement for the asset transfer.
IM Chemicals, also based at Linz, employs more than 150 people and focuses on specialty anhydrides products used across a diverse group of end markets including coatings, pigments, construction, and pharmaceuticals.
Explaining ESIM’s forward strategy following the divestment, CEO Frank Wegener said the company is positioning itself to specialize in custom manufacturing, a growth market. “With this strategic realignment, we aim to further expand our leading international market position in the years to come.”
Currently, the venerable Austrian company firm founded more than 80 years ago and until 2014 part of DSM, serves customers in the agrochemicals and the industrial sectors – for example, in food, feed and pharmaceuticals. It prides itself on its comprehensive chemical expertise and process engineering capabilities and its ability to carry out complex syntheses for demanding customers in large-scale plants while keeping a “keen focus” on raw material- and energy-efficiency.
With companies looking for partners for the development and scale-up of new complex molecules, this specialized know-how coupled with innovative strength and decades of experience are bonus points that should benefit ESIM, Wegener believes.
Author: Dede Williams, Freelance Journalist