Anupam Rasayan India Ltd. has successfully completed the acquisition of 100% equity stake in US-based Jayhawk Fine Chemicals Corporation for a total consideration of approximately US$150 million. The transaction was executed through its wholly-owned subsidiary, Doriath S.à r.l. This strategic move aims to build a globally diversified specialty chemicals platform, leveraging Jayhawk’s expertise in high-performance materials and strengthening Anupam’s footprint in developed US markets.
Acquisition of Jayhawk Finalized
Anupam Rasayan India Ltd. today, February 27, 2026, announced the consummation of its acquisition of 100% equity stake in Jayhawk Fine Chemicals Corporation, a US-based specialty chemical company and part of the CABB group. The total purchase consideration was approximately ~US$150 million, facilitated through its wholly owned subsidiary, Doriath S.à r.l.
Financing Details of the Transaction
The total purchase consideration of US$150 million was financed through the following mechanisms:
- US$109 million via issuance of Class B non-voting shares issued by Doriath S.à r.l.
- US$41 million via debt.
The funds were sourced primarily from:
- US$129 million funded by Altis XII Pte. Ltd. (an affiliate of funds managed by Oaktree Capital Management, L.P).
- US$21 million from Axis Bank.
Anupam confirms that Jayhawk will be fully consolidated, and the acquisition is expected to be EPS accretive.
Profile of Jayhawk Fine Chemicals
Founded in 1941 and headquartered in Galena, Kansas, USA, Jayhawk specializes in the custom manufacturing of advanced intermediates, active ingredients, and high-performance materials. The company operates state-of-the-art facilities capable of complex chemistries, including halogenation, oxidation, and phosphorus chemistry. Jayhawk generates approximately ~65% of its revenue from performance materials, primarily serving the electronics, energy & infrastructure, aerospace, and polymers sectors, with the majority of revenue sourced from US markets.
Strategic Rationale and Management View
Anand Desai, Managing Director of Anupam Rasayan India Ltd., stated that the transaction marks a significant milestone in building a differentiated, innovation-led global specialty chemicals platform. By integrating Jayhawk, the Company moves closer to end applications by manufacturing key N-1 molecules for critical sectors. This addition significantly strengthens Anupam’s global footprint and positions it closer to strategic customers in developed markets.
Furthermore, the acquisition enables the creation of a strong integrated platform combining Tanfac Industries, Anupam Rasayan, and Jayhawk, fostering complementary chemistries, expanded geographic reach, and deeper customer engagement. This integrated approach is expected to unlock cross-selling opportunities and drive sustainable long-term value creation.
About Anupam Rasayan India Ltd.
Anupam Rasayan India Ltd., incorporated in 1984, is a leading player in custom synthesis and specialty chemicals manufacturing in India. The company operates across two verticals: Life Science related Specialty Chemicals (Agrochemicals, Personal Care, Pharmaceuticals) and Other Specialty Chemicals (Polymer Additives). Anupam operates six manufacturing facilities across Gujarat, India, with an aggregate installed capacity of about 30,000 MT as of March 31, 2025, serving over 71 domestic and international customers.
Source: BSE
