By GREGORY ZELLER //
A leading “virtual manufacturer” for the life sciences and advanced-technology markets has completed another key takeover.
Port Washington-based Aceto Corp., a top global provider of industrial chemicals and other specialty materials, has announced its acquisition of Cascade Chemistry, an Oregon-based manufacturer specializing in active pharmaceutical ingredients.
The takeover gives Aceto an impressive West Coast presence – Cascade Chemistry recently began a $14 million facilities-expansion effort that’s projected to triple its manufacturing capabilities – and enhances the Long Island firm’s ability to support customers throughout the drug-development process.
It also continues Aceto’s international buying spree. In May, the company – which launched in 1947 – announced it had taken a majority stake in Finar Ltd., an India-based manufacturer, supplier and distributor of lab chemicals and food-grade additives; that followed Aceto’s April acquisition of multinational chemicals manufacturer A&C and its December takeover of Upstate New York-based chemical producer IsleChem.
Terms of the Cascade Chemistry acquisition were not disclosed. But the Oregon-based contract-development and manufacturing organization gives Aceto new and immediate prowess in the discovery of novel active pharmaceutical ingredients.
Gilles Cottier: All part of the plan.
It also expands Aceto’s ability to help clients move through regulatory processes and into clinical trials, while delivering “differentiated expertise in producing alkaloids, heterocycles, steroids, terpenes, prostaglandins, phenylacetylenes and chiral syntheses,” according to a company statement.
Aceto Chief Executive Officer Gilles Cottier called the 40-year stalwart of chemistry outsourcing – and its multitude of chemistry PhDs and other industry experts – “an excellent addition to the Aceto team,” and said the Cascade Chemistry acquisition fits perfectly with Aceto’s aggressive expansion campaign.
“The acquisition of Cascade Chemistry supports and complements our focus on acquisitions that offer customers supply-chain choice and technical expertise,” Cottier said this week. “With each of our acquisitions, Aceto looks to add companies that enhance our business capabilities and support our growth strategy, while aligning with our core business values.”
Cascade Chemistry President Jeremiah Marsden – who remains in position post-acquisition, along with all those highly trained West Coast chemists – said the Oregon company and its staff “welcome the opportunity to now join forces with Aceto.”
“Cascade Chemistry has a 40-year track record of applying our deep expertise to solve problems and provide our customers with the support they need to successfully complete the challenging and complex [active pharmaceutical ingredients]-development cycle,” Marsden said in a statement. “Access to the expanded capabilities of the Aceto family of companies will allow us to serve our clients with comprehensive, fully integrated support teams and additional service options that will further enhance and accelerate our clients’ programs.”
