M&A Deal Summary

Turnspire Capital Partners Acquires Pharmachem Innovations

On September 5, 2024, private equity firm Turnspire Capital Partners acquired life science company Pharmachem Innovations from Ashland

Acquisition Highlights
  • This is Turnspire Capital Partners’ 1st transaction in the Life Science sector.
  • This is Turnspire Capital Partners’ 12th transaction in the United States.
  • This is Turnspire Capital Partners’ 1st transaction in New Jersey.

M&A Deal Summary

Date 2024-09-05
Target Pharmachem Innovations
Sector Life Science
Buyer(s) Turnspire Capital Partners
Sellers(s) Ashland
Deal Type Divestiture

Target

Pharmachem Innovations

Kearny, New Jersey, United States
Pharmachem Innovations is a provider of proprietary nutrition ingredients and custom formulation services that supplies a broad portfolio of both active ingredients and formulation aids to nutritional product companies. Pharmachem Innovations is based in Kearny, New Jersey.

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Buyer(S) 1

DESCRIPTION

Turnspire Capital Partners is a private investment firm focused on acquiring North American companies that have reached 'strategic, operational, or financial inflection points' with their business and could benefit from a hands-on investor. Turnspire will consider a variety of transaction situations, including special situations, corporate carve-outs, and family transitions. Sectors of interest include aerospace/defense, automotive, machinery, chemicals, consumer, building materials, food/beverages, logistics, metals, packaging, and plastics. Prospective companies generally have revenues of $50 to $400 million. Turnspire Capital Partners was formed in 2013 and is based in New York City.


DEAL STATS #
Overall 13 of 14
Sector (Life Science) 1 of 1
Type (Divestiture) 8 of 8
State (New Jersey) 1 of 1
Country (United States) 12 of 13
Year (2024) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-06 Swanson Industries

Morgantown, West Virginia, United States

Swanson Industries provoides manufacturing, remanufacturing, repair, and distribution services of mining equipment, hydraulic cylinders, and related industrial equipment across the United States. Swanson Industries was founded in 1964 and headquartered in Morgantown, West Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-03 GHP Group

Niles, Illinois, United States

GHP Group specializes in developing, distributing, importing, and manufacturing seasonal products for major home centers, retailers, and online retailers, such as BBQs, heaters, fireplaces, and drinking water solutions. GHP Group was founded in 2003 and is based in Niles, Illinois.

Buy -

Seller(S) 1

SELLER

Ashland

Wilmington, Delaware, United States

Category Company
Founded 1924
Sector Chemicals
Employees3,800
Revenue 2.2B USD (2023)
DESCRIPTION

Ashland is a global specialty chemicals company. Ashland has three reportable segments: Specialty Ingredients, Performance Materials, and Valvoline. Specialty Ingredients is a global provider of cellulose ethers, vinyl pyrrolidones, and biofunctionals. Performance Materials is composed of two divisions: Composites and Intermediates/Solvents. Performance Materials is a global provider of unsaturated polyester resins and vinyl ester resins. Ashland was founded in 1924 and is based in Wilmington, Delaware.


DEAL STATS #
Overall 14 of 15
Sector (Life Science) 1 of 1
Type (Divestiture) 12 of 13
State (New Jersey) 2 of 2
Country (United States) 14 of 15
Year (2024) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-07 Ashland Nutraceuticals

Wilmington, Delaware, United States

Ashland Nutraceuticals is a provider of proprietary nutrition ingredients and custom formulation services that supplies a broad portfolio of both active ingredients and formulation aids to nutritional product companies. Ashland Nutraceuticals is based in Wilmington, Delaware.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-23 Ashland s Avoca Business

Wilmington, Delaware, United States

Ashland's Avoca Business supplies Sclareolide, a fragrance fixative, and a range of contract manufacturing capabilities from two production facilities in North Carolina and Wisconsin.

Sell -