An independent chemical supplier Strem Chemicals has been acquired by the sodium borohydride maker Ascensus Specialties. The 57 years old Strem chemicals is based in Newburyport, Massachusetts, is a source for chemical researchers. The Massachusetts based company is a wide range of inorganic and organometallic compounds, ligands, catalysts, and nanomaterials for both the research lab and manufacturing. It also provides custom synthesis of active pharmaceutical ingredients.
Mike Strem and his wife said that the acquisition completes a circle. The company started the firm in 1964 in partnership with Ventron Corporation, which pioneered the commercial production of NaBH4 in the 1950s. Strem took his firm independent in 1977.
The Ventron NaBH4 business owned by Morton International, then Rohm and Haas, and then Dow. The private equity firm Wind Point Partners bought the business from Dow in 2015 and renamed it Ascensus in 2017. The supplied NaBH4 which is a reducing agent, Ascensus sells reactive metals, boranes, and related chemicals. In 2019, the firm acquired Callery, a maker of alkali metal alkoxides and specialty boranes. And in 2020, it bought NaBH4 competitor Montgomery Chemicals.
Longtime lieutenant Ephraim Honig, is the CEO of Strem Chemicals for the past 5 years and also served as chief operations officer for 10 years will join Ascensus as chief science and innovation officer and will continue to manage the Newburyport facility. The other 76 Strem staffers are also joining the new firm.
Sheehan, a researcher, entrepreneur and the founder of the Air company commercialized a suite of iridium-based oxidation catalysts with Strem, is optimistic. He said that the acquisition is good news. He don’t think this is going to hinder Strem’s role as a supplier of specialty materials to research labs,” hHe hopeful that this will go the opposite direction and better connect Ascensus to the research community