The Chemours Company Agrees to Sell Glycolic Acid Business to Iron Path Capital-backed PureTech Scientific Inc. for $137 Million
The transaction is expected to close by the third quarter of 2023 subject to regulatory approvals and other customary closing conditions.
- The transaction is expected to close by the third quarter of 2023 subject to regulatory approvals and other customary closing conditions.
- Its Co-founder and Managing Partner, Scott Mraz commented: "The forming of PureTech Scientific and acquisition of Chemours’ Glycolic Acid Business marks Iron Path’s first major investment in the specialty chemicals sector focused on the life science end markets.
- Our goal is to leverage Iron Path’s extensive operational expertise and technological capabilities to support PureTech Scientific’s growth plans through continued innovation with our customers."
- Grace Matthews, Inc. is acting as Chemours’ financial advisor and Spilman Thomas & Battle, PLLC is acting as its legal advisor.