On 27 September 2021, Safic-Alcan announced that it has acquired 100 % of Rit-Chem Co., Inc., a boutique chemical distributor specialising in the performance and life science sectors in the USA. Rit-Chem will become part of the ChemSpec organisation in the USA, the American affiliate of the Safic-Alcan Group. Financial details of the transaction were not disclosed.
Established in 1972 by Henry Ritell and headquartered in New York, Rit-Chem started initially supplying speciality chemicals to the paint and coatings manufacturers, before diversifying in fields such as rubber, plastic and food/feed. The company represents key market leaders and also successfully promotes its own branded product lines, very much in line with Safic-Alcan modus operandi. Whilst its focus is the North American market, its sales expand to the four corners of the globe. As distributors, the company maintains a network of five strategically located warehouses.
“The acquisition of Rit-chem is a strong step forward for our ambitions in North America, and will complement perfectly ChemSpec’s current activities” stated Yann Lissillour, Head of Mergers and Acquisitions for Safic-Alcan Group.
“The Ritell’s second generation will remain, ensuring a smooth transition, and the ChemSpec family is looking forward to welcome officially Bruce, Gary and Wayne to the team, as well as the other Rit-Chem employees”, said Dave Moreland, President and CEO of ChemSpec.
Safic-Alcan is a French independent distributor of speciality chemicals headquartered in Paris La Défense (France). The company develops and provides wide ranges of polymers, materials and additives for the rubber, coatings, adhesives, thermoplastics, polyurethane, lubricants, detergency, cosmetics, pharmaceuticals and nutraceuticals industries. With a network of 30 offices strategically located in EMEA, Asia and North America, the company represents manufacturers around the world.