Listed speciality chemicals giant Croda International, which supplies products for some of the world’s biggest brands, has completed two international acquisitions.
Nautilus Biosciences Canada is a technology-rich marine biotechnology company based in Charlottetown, Canada.
The two companies have worked together for the past six years developing specific applications for skin care and hair care, as well as crop care. Croda intends to establish Nautilus as a Croda centre of innovation for Marine Biotechnology at its existing base at the University of Prince Edward Island.
Goole-headquartered Croda has also completed the acquisition of IonPhasE, an innovative technology supplier of static electricity protection products, headquartered in Tampere, Finland.
Steve Foots, chief executive of Croda, said: “These acquisitions are very much aligned to our strategy of investing in disruptive technologies, clever people and rich intellectual property. With Nautilus as part of the Croda group, we further expand our expertise in biotechnology; the Nautilus team that will join us have extensive knowledge and expertise in marine biotechnology, also known as ‘blue biotechnology’.
“The experience and knowledge of the IonPhasE management team, coupled with our innovation strength, global sales reach and complementary technologies, will allow us to better meet the needs of our customers within our Smart Materials business within the Performance Technologies sector.”
Croda has now completed four acquisitions and co-investments completed in the last 12 months. The latest deals follow the purchase of Swedish research enterprise Enza Biotech in July 2017 and an investment in Cutitronics, a UK technology-based innovator of personalised, adaptive skin care.
By Stephen Farrell
Source: Insider Media
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