Aquapharm Chemicals, a company based in Pune and valued at, more than ₹4,500 crore has caught the attention of buyers such as RP Sanjiv Goenka Group, Bain Capital, and Dorf Ketal. The company is renowned for its chemicals used in water treatment and its global reach. The founders of Aquapharm Chemicals are now contemplating selling all their shares. This acquisition opportunity highlights the increasing interest, in the Indian chemical industry and the necessity to explore markets beyond China.
Multiple sources have revealed that RP-Sanjiv Goenka Group, Bain Capital, and Dorf Ketal are leading contenders in the race to acquire Aquapharm Chemicals, a Pune-based company valued at over ₹4,500 crore. Aquapharm Chemicals, promoted by the Mangwani family, specializes in producing specialty chemicals for water treatment. The promoters are considering selling their entire shareholding in the company, and Stifel Financial Corp has been appointed as the transaction’s banker.
This potential acquisition comes at a time when investors are increasingly interested in the Indian chemicals sector, as global buyers seek to diversify their sourcing beyond China. Aquapharm is regarded as a truly international Indian chemicals company, which has naturally sparked high interest among potential buyers.
Aquapharm Chemicals has a significant portion of its business from exports, with a strong presence in Europe and North America. Moreover, the company operates subsidiaries in the US, Saudi Arabia, Europe, and Hong Kong.
In the past, Aquapharm acquired Aquapharm Chemicals LLC in the US in 2018 and Unique Solutions for Chemical Industries Company in Saudi Arabia in 2019. The US unit focuses on manufacturing chemicals for the oil and gas sector, while the Saudi unit specializes in desalination plants and holds major contracts with a local government agency. The company’s market leadership in the phosphonates segment and its diversification into other products have further enhanced its appeal.
Crisil Ratings stated in a report last year that Aquapharm’s longstanding presence in the market has fostered strong relationships with both domestic and overseas customers, including well-known names like Procter and Gamble, Henkel AG, Ecolab Inc, Buckman Laboratories International Inc, and Unilever.
Aquapharm Chemicals’ product portfolio comprises specialty water treatment chemicals such as phosphonates, polymers, biocides, and pharmaceutical intermediaries. These chemicals serve various industries, including detergents, paper, textiles, pharmaceuticals, personal care, water treatment, and leather.
The company operates two manufacturing facilities in Maharashtra, boasting a combined installed capacity of producing approximately 70,000 tonnes of phosphates and other specialty chemicals annually.
