Safic-Alcan, a major distributor of speciality chemicals, 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.
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 field, such as rubber, plastic and food/feed.
“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.
Rit-Chem represents key market leaders and also successfully promotes their own branded product lines, very much in line with Safic-Alcan modus operandi. Whilst their focus is the North American market, their sales expand to the four corners of the globe.
“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,” commented Dave Moreland, President and CEO of ChemSpec.