Everstone buys Calibre Chemicals for about $100 million

Everstone Capital today announced acquisition of a controlling stake in Calibre Chemicals, which is a specialty ingredients player focused on the pharmaceutical, nutritional and personal care segments, for a reported $100 million (around Rs 730 crores). The city-based, privately-held Calibre was established in 1984 and manufactures a range of specialty chemicals falling into two product lines–mineral derivatives (iodine, selenium, cobalt) and peroxygens (persulphates, perchlorates).

Though Everstone did not disclose deal value, sources said it is around $100 million.

Calibre also offers various packaging solutions including paper cartons, HDPE drums, LDPE bags, steel drums and fibre drums, apart from manufacturing various custom chemicals at its Sarigam plant in Gujarat.

It caters to several growing end-industries like pharma, nutrition and personal care, and has customers in over 75 countries spanning America, Europe, Africa and Asia and nets two-thirds of its revenue from exports. It also has a wholly-owned subsidiary in Belgium.

Sameer Sain, co-founder and Chief Executive, Everstone Group, said, “Calibre has a whole suite of specialty ingredient products with strong growth potential catering to both domestic and global markets. We believe our operational expertise and experience will help Calibre realidse its global goals.”

Adding to it, Ranjit Bhavnani, founder-chairman and Managing Director, Calibre, said, “The investment from Everstone endorses the growth trajectory that Calibre is on, and we aim to push the envelope with this investment.”

Everstone’s pharma portfolio companies include complex generic and specialty pharma products manufacturer Slayback Pharma, domestic pharma distribution platform and API Holdings, amongst others. In 2019, it had successfully exited from Rubicon Research.

Edited by EP Bureau