Innospec acquired QGP Química Geral, a leading specialty chemicals company based in Brazil, expanding its base in South America.
WHO: Founded in 1992, QGP Química Geral is a leading specialty chemicals company based in Brazil with approximately 300 employees. The company develops and manufactures a wide range of specialty chemicals for the leather, agriculture, home care, industrial chemicals, construction, and other related markets.
Innospec Inc. is an international specialty chemicals company with approximately 2,100 employees in 25 countries. Innospec manufactures and supplies a wide range of specialty chemicals to markets in the Americas, Europe, the Middle East, Africa, and Asia-Pacific. The Performance Chemicals business creates innovative technology-based solutions for customers in the personal care, home care, agrochemical, mining and industrial markets. The Fuel Specialties business specializes in manufacturing and supplying fuel additives that improve fuel efficiency, boost engine performance, and reduce harmful emissions. Oilfield Services provides specialty chemicals to all elements of the oil and gas exploration and production industry.
WHY: With this acquisition, Innospec has a meaningful manufacturing, customer-service, and product development base in South America, one of the largest and most important global markets for all Innospec technologies. QGP also adds new surfactant and other specialty chemistries to Innospec’s global portfolio in important growth markets like agriculture.
Bruce McDonald, President of Performance Chemicals at Innospec, said, “We are delighted to welcome QGP’s employees and its extremely complimentary capabilities to Innospec. We are excited to now have a significantly stronger and broader offering for our customers both in Brazil and globally.” Patrick S. Williams said, “This acquisition aligns with our long-stated M&A focus to further strengthen our Performance Chemicals segment and add a manufacturing base in South America. Following this acquisition, we continue to have an extremely strong, debt-free balance sheet and remain well-positioned for additional M&A, consistent shareholder returns, and organic growth investments.”
IN THEIR OWN WORDS: Patrick S. Williams, President and CEO of Innospec, said, “We are very pleased to complete this acquisition. We have been highly impressed by QGP’s founders who have built a leading specialty chemical company backed by excellent customer service, innovation and technical support similar to our own. The product development and manufacturing capabilities of QGP complement every Performance Chemicals end-market that we serve including Personal Care, Agriculture, Home Care, Industrial Chemicals, Construction and Mining.”
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