In a major overseas expansion, Anupam Rasayan India has agreed to acquire US-based Jayhawk Fine Chemicals for about $150 million, marking one of its biggest international moves so far.
The deal includes the purchase of all Jayhawk’s equity and the settlement of outstanding loans. After adjusting for Jayhawk’s cash balance, the enterprise value of the transaction works out to around $134 million.
The acquisition gives Anupam Rasayan its first manufacturing footprint in the United States. This is expected to bring the company closer to global customers and strengthen its position in high-margin, niche chemical segments.
Jayhawk Fine Chemicals is known for its expertise in high-purity and complex chemistries. Its capabilities include advanced chemical processes used in sectors such as aviation, electronics, semiconductors and other industrial applications. The company reported revenue of nearly $78 million in 2024, with an EBITDA of around $15 million.
According to Anupam Rasayan’s management, the deal is aimed at creating strong operational and strategic synergies. The plan is to combine Jayhawk’s technology and customer relationships in the US with Anupam’s cost-efficient manufacturing base in India. This “dual manufacturing” model is expected to improve supply reliability for global clients while keeping costs competitive.
The transaction will be funded through a mix of internal funds, debt and a large quasi-equity investment from a global fund. Importantly, the company has clarified that this investment will not dilute Anupam’s management control.
After the acquisition, Anupam Rasayan expects its business mix to change significantly. The share of “performance materials” in its revenue is likely to rise to about 35%, compared to roughly 12% earlier. Agrochemicals are expected to continue as a key segment, contributing around 40–45% of revenues.
Market analysts have largely viewed the acquisition as a strategic, long-term positive, saying the deal strengthens Anupam’s global presence and opens new growth avenues in high-value industries.
With this move, Anupam Rasayan is positioning itself as a more diversified and globally integrated specialty-chemicals company, reducing dependence on any single geography.
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