Shareholders of Finar Limited have sold a majority stake to Aceto, a portfolio company of New Mountain Capital
Established in 1998, Finar has evolved as a fast-growing specialty materials company that has steadily built its manufacturing base and product portfolio. Beginning as a manufacturer of laboratory chemicals, the company has since increased offerings to over 1,000 products and diversified product categories to also include pharmaceutical excipients and solvents, food grade additives, aquaculture specialties and safety and hygiene products. Serving more than 10,000 customers across industries in domestic and international markets, Finar’s strong distribution network and sales force enables them to reach customers across India and overseas in over 50 countries.
Headquartered in New York, Aceto is a leading global provider of differentiated specialty materials in life sciences and advanced technology end markets. With business operations in nine countries, Aceto distributes over 1,100 chemical compounds used principally by the pharmaceutical, nutraceutical, agricultural and specialty chemical industries. Aceto’s global operations, including a significant staff on the ground in China, India, Europe and North America, are distinctive in the industry and enable its worldwide sourcing and regulatory capabilities. Aceto was acquired by New Mountain Capital, a New York, New York-based Investment firm, in 2019.
Amit Maheshwari, Managing Director at Finar, commented, “With Aceto’s partnership, we have the experience, capital and culture to assure we continue our growth story.”
Preet Singh, Managing Director at Lincoln, said, “We are pleased to have advised the shareholders of Finar on this transaction. The investment by Aceto into Finar stands testimony to the continued interest of global strategics to invest in good quality businesses in India. This transaction reinforces our leadership on cross-border transactions in the specialty chemicals sector in India.”
Lincoln acted as the exclusive investment banking advisor to the shareholders of Finar and prepared and managed a competitive mergers and acquisitions process, securing not only an attractive economic outcome for the sellers, but also identifying an ideal partner for management to implement its long-term vision.
Lincoln’s process execution was thoughtful and completely centered around what was best for us. Lincoln took the time to develop a deep understanding of our business and culture to thoughtfully convey our story and lead us to a partner to fit that criteria perfectly.
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