Osaka Gas Chemicals to acquire Jacobi Carbons
Japan-based Osaka Gas Chemicals, a wholly-owned subsidiary of Osaka Gas, has entered into an agreement with AddSorb Holding to acquire all the shares of Jacobi Carbons, the companies said on Tuesday.
Jacobi is the worlds largest manufacturer and distributor of coconut shell activated carbon. It is headquartered in Kalmar, Sweden, The transaction, which has an enterprise value of $400 million, is expected to close in January 2014.
Osaka Gas Chemicals has a leading position in the activated carbon market in Japan through its subsidiary Japan EnviroChemicals, who manufactures and distributes high-value-added activated carbons made from coconut shells and wood sawdust.
Meanwhile, Jacobi is the largest leading global coconut shell activated carbon manufacturer with a comprehensive and diverse product portfolio catering to a global blue-chip customer base across an array of end-market applications. The acquisition will reinforce both companies existing strengths in the activated carbon industry and create a global leader across key end-market applications, delivering significant additional value for customers.
The combination of Jacobi and Osaka Gas Chemicals will greatly benefit our global customer base through an expanded product offering, enhanced R&D capabilities and additional end-market applications," said Anders Skeini, CEO of Jacobi. "I look forward to Jacobis next chapter of development in cooperation with Osaka Gas Chemicals."
Activated carbons are used in an increasing number of purification processes including, among others, drinking and process water filtration, air and gas purification, recovery of precious metals and purification of a wide range of food products.
The market for activated carbons is expected to grow significantly due to more stringent global regulations of water and air pollution in developed countries and the improvement of living standards in emerging countries.
In line with Osaka Gas growth ambitions, the development of environment and non-energy related businesses, including the expansion of the materials solutions business, are key areas of focus. As a result of the acquisition, Osaka Gas Chemicals will become the third largest manufacturer of activated carbons globally and the largest manufacturer of high value-added activated carbon made from coconut shells.
Jacobis strong management team, led by CEO Anders Skeini, and high level of responsiveness to customer demands have been instrumental in transforming the business into a leading global player that consistently outpaces activated carbon market growth," said Masataka Fujiwara, president of Osaka Gas Chemicals. "The acquisition of Jacobi is directly aligned with our strategic ambitions and enhances our existing capabilities in the attractive activated carbon market segment."
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