December 18, 2007

Major Vitamin B3 maker acquired by private equity firm

Vertellus Specialties Inc, the world's second largest producer of Vitamin B3 for both animal feed and human consumption has been acquired by Wind Point Partners, a private equity investment firm.

The acquisition was made in partnership with Richard Preziotti, who will assume the role of CEO of Vertellus upon close.

Preziotti Rich has more than 16 years of experience leading global chemical businesses. Most recently, Rich was Vice President and General Manager of Honeywell Chemical and Fluorine Products, a US$1.2 billion manufacturer of performance, fine, life science and fluorine chemicals, according to the company's press release.

Vertellus, based in Indianapolis, is a leading manufacturer of high value specialty chemicals used in the agroscience, nutrition, pharmaceutical, personal care and performance material markets.

The company is also the leading global producer of pyridine and picoline chemicals that function as key intermediates in the manufacturing of herbicides, insecticides, biocides and a range of pharmaceutical and industrial products.

Preziotti said he is looking forward to working with the management team and Wind Point, adding that he would work to realize the potential of Vertellus by maximizing productivity, increasing sales of pyridine and picoline derivative products, and driving further company growth in natural polyols and niche specialty markets.

Wind Point Partners is a private equity investment firm with US$2 billion in capital under management. The company focuses on partnering with top caliber management teams to acquire solid middle market businesses.