Add-on Acquisition • Chemicals

NewMarket Acquires Calca

On September 17, 2025, NewMarket acquired chemicals company Calca from AE Industrial Partners

Acquisition Context
  • This is NewMarket’s 1st transaction in the Chemicals sector.
  • This is NewMarket’s 2nd transaction in the United States.
  • This is NewMarket’s 1st transaction in Louisiana.

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M&A Deal Summary

Date September 17, 2025
Target Calca
Sector Chemicals
Buyer(s) NewMarket
Sellers(s) AE Industrial Partners
Deal Type Add-on Acquisition

Target Company

Calca

Westlake, Louisiana, United States
Calca is a manufacturer of hydrazine, which is used in diverse national security applications, including in-space propellant, military aircraft, pharmaceuticals, and water treatment. Calca was founded in 1953 and is based in Westlake, Louisiana.
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Buyer Overview 1

Buyer

NewMarket

Richmond, Virginia, United States

Category Company
Founded 1887
Sector Chemicals
Employees2,060
Revenue 2.8B USD (2024)
DESCRIPTION

NewMarket through its subsidiaries, develops, manufactures, blends, and delivers chemical additives that enhance the performance of petroleum products. NewMarket was founded in 1887 and is based in Richmond, Virginia.


Deal Context for Buyer #
Overall 2 of 2
Sector: Chemicals 1 of 1
Type: Add-on Acquisition 2 of 2
State: Louisiana 1 of 1
Country: United States 2 of 2
Year: 2025 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-04 American Pacific

Cedar City, Utah, United States

American Pacific is a specialty materials manufacturer of critical chemicals for some of the U.S. Government’s most vital military and space programs. The company produces technical materials through proprietary processes for use in missile defense, space launch, pharmaceutical, and fire suppression applications. American Pacific was formed in 1955 and is based in Cedar City, Utah.

Buy $700M

Seller Profile 1

SELLER

AE Industrial Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 6.2B USD
Size Mega
Type Sector Focused
DESCRIPTION
AE Industrial Partners' headquarters in Boca Raton, Florida.
AE Industrial Partners' headquarters in Boca Raton, Florida.

AE Industrial Partners is a private equity firm focused on acquiring and investing in aerospace and industrial companies. The Firm specifically looks for established, profitable companies in the aircraft propulsion (turbojet, turbofan and turboprop aircraft engines) and power generation (industrial turbines) industries, as well as the manufacture of OEM and replacement parts, and aftermarket maintenance, repair and overhaul. AE Industrial Partners was formed in 1998 and is based in Boca Raton, Florida.


Deal Context for Seller #
Overall 23 of 23
Sector: Chemicals 1 of 1
Type: Add-on Acquisition 14 of 14
State: Louisiana 1 of 1
Country: United States 23 of 23
Year: 2025 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-08-07 Firefly Aerospace

Cedar Park, Texas, United States

Firefly Aerospace is providing economical launch vehicles, spacecraft, and in-space services. Firefly's launch vehicles utilize common technologies, manufacturing infrastructure, and launch capabilities, providing LEO launch solutions for up to ten metric tons of payload at the lowest cost per kg in the small-launch class. Firefly Aerospace was founded in 2017 and is based in Cedar Park, Texas.

Sell -