Vertellus has signed a definitive agreement to acquire IM Chemicals, ESIM Chemicals’ intermediates and specialities division, subject to customary regulatory approvals. Terms were not disclosed.

CEO John Van Hulle described the deal as “directly in line with Vertellus’ strategy to become a leading global provider of specialty chemicals and solutions through both internal growth and acquisitions of complementary customer-focused businesses”.

Speciality chemicals firm Vertellus has been acquired from Arsenal Capital Partners by another private equity firm, Pritzker Private Capital of Chicago. John Van Hulle, president and CEO of Vertellus, and other members of the management team are also investing and will continue to lead the business. Terms were not disclosed