As of June 1st
, 2023, The Chemours Company, a global chemistry company with leading market positions in titanium technologies, thermal and specialized solutions, and advanced performance materials, has entered into a definitive agreement to sell its Glycolic Acid business to PureTech Scientific Inc., a company founded and backed by Iron Path Capital, a private equity firm focused on specialty industrial and healthcare sectors.
The transaction is expected to close by the third quarter of 2023, subject to regulatory approvals and other customary closing conditions. The order entry and order fulfillment processes will not change until the close of this sale. The proposed sale includes all expertise, intellectual property, and assets of the Glycolic Acid business. The majority of the Glycolic Acid team will transfer to the new organization, including the undersigned management team. ChemPoint will continue its long-standing partnership with The Chemours Company and its partnership with the Glycolic Acid business as it fully transitions to PureTech Scientific.
With this acquisition, PureTech Scientific is positioning itself to become the global leader in the organic synthesis of ultra-high-purity alpha hydroxy acids for the life sciences and specialty chemical industries. All glycolic acid products will continue to be manufactured in the WV plant, and ChemPoint is committed to providing you with the same superior product and high-quality support and helping you avoid supply disruptions throughout the acquisition.
You can view the Chemours communication letter to learn more about the acquisition. View or Download the Chemours Communication letter
The Chemours press release is available here for further information about the sale. The Chemours Company Agrees to Sell Glycolic Acid Business to Iron Path Capital-backed PureTech Scientific Inc. for $137 Million | Chemours