Acquisition expands Kensing's surfactant and specialty esters product offerings
KANKAKEE, Ill., Aug. 1, 2022 /PRNewswire/ -- Kensing, LLC ("Kensing" or the "Company"), a leading manufacturer of natural vitamin E, plant sterols, specialty esters and high-purity anionic surfactants, and a portfolio company of One Rock Capital Partners, LLC ("One Rock"), today announced that it has entered into a definitive agreement to acquire the Hopewell, Virginia amphoteric surfactants and specialty esters manufacturing operations (the "Business") from Evonik Corporation ("Evonik").
Located in Hopewell, Virginia, the Business primarily serves the personal care market, with a focus on skin care, hair care and oral care applications. The Business is known for product quality and technical leadership, with over 50 years of experience in betaines chemistry and ships products to leading personal care and home care customers in North America.
"The amphoteric surfactants and specialty esters manufacturing operations that Kensing will acquire as a result of this transaction are complementary to our existing product portfolio derived from plant-based feedstocks," said Serge Rogasik, Chief Executive Officer of Kensing. "Building on our leadership position in high-purity anionic surfactants, by acquiring the Business, we are expanding Kensing's presence in personal care and home care ingredients to provide our customers with an expanded range of low-detergency product and service offerings."
Rohan Narayan, Partner at One Rock added, "We are excited to support Kensing in its second add-on acquisition. The Business manufactures innovative, high-quality, natural raw material based products and is a great fit for Kensing. We continue to actively support Kensing's pursuit of acquisition opportunities aimed at further strengthening its position as a leading, global manufacturer of plant-based ingredients."
The transaction is subject to regulatory approvals and customary closing conditions and is expected to close in the third quarter of 2022.
Kensing, LLC is a leading manufacturer of a broad range of specialty chemicals derived from vegetable-oils including plant sterols, natural vitamin E, anionic surfactants and esters. Headquartered in Kankakee, IL, Kensing's high-quality, precisely formulated ingredients serve a diverse array of customers across the home & personal care, pharmaceuticals, nutrition and agricultural markets. Kensing is uniquely focused on providing customers with a superior level of service, agility and expert collaboration to help them develop improved products. To learn more, please visit www.kensingsolutions.com.
Evonik is one of the world leaders in specialty chemicals. The company is active in more than 100 countries around the world and generated sales of €15 billion and an operating profit (adjusted EBITDA) of €2.38 billion in 2021. Evonik goes far beyond chemistry to create innovative, profitable and sustainable solutions for customers. About 33,000 employees work together for a common purpose: We want to improve life today and tomorrow. To learn more, please visit: https://history.evonik.com/en.
ABOUT ONE ROCK
One Rock makes controlling investments in companies with potential for growth and operational improvement using a rigorous approach that utilizes highly experienced Operating Partners to identify, acquire and enhance businesses in select industries. The involvement of these Operating Partners affords One Rock the ability to conduct due diligence and consummate acquisitions and investments in all types of situations, regardless of complexity. One Rock works collaboratively with company management and its Operating Partners to develop a comprehensive business plan focused on growing the enterprise and its profitability to enhance long-term value. For more information, visit www.onerockcapital.com.
Prosek Partners for One Rock Capital
SOURCE One Rock Capital Partners, LLC