LA DEFENSE, Paris—Safic-Alcan Group has acquired 100 percent of Rit-Chem Co. Inc., a boutique chemical distributor specializing in the performance and life science sectors in the U.S., the major distributor of specialty chemicals stated in a Sept. 23 press release.
Rit-Chem will become part of the ChemSpec Ltd. organization in the U.S., the American affiliate of the Safic-Alcan Group.
Henry Ritell established Rit-Chem, headquartered in New York, in 1972. The company initially supplied specialty chemicals to the paint and coatings manufacturers before diversifying in fields such as rubber, plastic and food/feed.
"The acquisition of Rit-Chem is a strong step forward for our ambitions in North America, and will complement perfectly ChemSpec's current activities" said Yann Lissillour, head of mergers and acquisitions for Safic-Alcan Group.
Rit-Chem represents key market leaders and promotes their own branded product lines, which is in line with Safic-Alcan modus operandi. Their focus is the North American market, but their sales expand to the four corners of the globe, according to Safic-Alcan.
"The Ritell's second generation will remain, ensuring a smooth transition," Dave Moreland, president and CEO of ChemSpec, said of Rit-Chem's leadership. "The ChemSpec family is looking forward to welcome officially Bruce, Gary and Wayne to the team, as well as the other Rit-Chem employees."