Chemours to sell Glycolic Acid Business for US$137 million

The Chemours Company has entered into a definitive agreement to sell its Glycolic Acid Business for US$137 million in cash to PureTech Scientific Inc. The transaction is expected to close by Q3 of 2023 subject to regulatory approvals and other customary closing conditions.

Chemours’ glycolic acid portfolio includes a range of technical and cosmetic grades suitable for use in diverse applications. The portfolio would be a fitting part of PureTech Scientific’s growth plan.

Chemours agrees to sell Glycolic Acid Business to PureTech Scientific for US$137 million.

PureTech Scientific is a company founded and backed by Iron Path Capital, a private equity firm focused on lower-middle market investments across the specialty industrial and healthcare sectors.

With this acquisition, PureTech Scientific is positioning itself to become the global leader in organic synthesis of ultra-high purity alpha hydroxy acids for the life sciences and specialty chemical industries.