Grace Completes Acquisition of Fine Chemistry Business

June 01, 2021: W. R. Grace & Co. announced the completion of its acquisition of the Fine Chemistry Services business (“FCS”) of Albemarle Corporation (NYSE: ALB) for approximately $570 million, including $300 million paid in cash and $270 million funded through the issuance to Albemarle of non-participating preferred equity of a newly created Grace subsidiary.

“FCS builds on the strengths of our Materials Technologies portfolio by expanding our expertise and offerings and further deepens our position in high growth pharma markets such as oncology, diabetes, cardiovascular, and antiviral. The talented and engaged team shares our values and vision to be indispensable to our customers. Our customers will be delighted with the benefits of the combined innovation and manufacturing capabilities,” said Sandra Wisniewski, President, Grace Materials Technologies.

Pharma & Consumer is the largest, fastest growing and most profitable subsegment within Grace’s Materials Technologies business. FCS adds a comprehensive portfolio of high-value products and services with highly complementary analytical, regulatory and manufacturing capabilities to Grace’s existing pharma portfolio focused on chromatographic resins, formulation excipients and drug delivery, pharmaceutical intermediates and active pharmaceutical ingredients.