Novopor Acquires FAR Chemical to Expand Specialty Chemical Platform
Novopor Advanced Science, an Indian company backed by Bain Capital, has acquired Florida-based FAR Chemical from CPS Performance Materials Group. This strategic acquisition aims to strengthen Novopor's integrated specialty chemical platform, offering comprehensive solutions from development to manufacturing. FAR Chemical brings expertise in complex chemistries for sectors like electronics and aerospace. This move further expands Novopor's presence in the US, following its acquisition of Pressure Chemical last year, and aligns with its global growth in specialty chemicals.
Novopor Advanced Science, an India-based company owned by Bain Capital, specializing in performance chemicals and material science, has announced the acquisition of FAR Chemical from CPS Performance Materials Group. While specific financial terms were not disclosed, this deal marks a significant step in Novopor's overarching strategy. The acquisition is intended to establish an integrated specialty chemical platform capable of providing end-to-end solutions to customers, encompassing everything from initial process development to full-scale commercial manufacturing.FAR Chemical, headquartered in Florida, is recognized for its profound expertise in complex chemistries. It produces custom and intricate specialty chemicals catering to diverse end-use markets, including electronics, aerospace and defense, and coatings and adhesives. This strategic move is not an isolated incident but rather a continuation of Novopor's aggressive expansion strategy within the United States. It follows closely on the heels of its acquisition last year of Pressure Chemical, a Pittsburgh-based company renowned for its work in specialty chemicals and high-pressure chemistry. Beyond its US expansion, Novopor has also recently inaugurated a new pilot plant in Visakhapatnam, India. This facility is designed to bridge the gap between early-stage research and development and commercial-scale production, focusing on agrochemicals, performance materials, and other specialty chemicals, further solidifying Novopor's global footprint and innovation capabilities.
