Anupam Rasayan India Ltd has entered into a definitive agreement to acquire 100% equity in Jayhawk Fine Chemicals, a US-based specialty chemicals manufacturer, from the CABB Group.
The company shared transaction details during an investor call on December 15, 2025. Jayhawk is headquartered in Kansas and has been operating in custom and specialty chemicals for several decades.
The acquisition has an enterprise value of $134 million, while the total purchase consideration is $150 million. The difference includes cash held on Jayhawk’s balance sheet at the time of acquisition.
Based on calendar year 2024 numbers, the deal values Jayhawk at an EBITDA multiple of about 9x.
Anupam Rasayan will invest $40 million in the transaction through a mix of internal accruals and debt. The remaining $110 million will be invested by a global investment management firm through Class B non-voting shares.
This structure allows Anupam Rasayan to retain full equity ownership and consolidate Jayhawk’s financials.
Jayhawk reported revenue of around $78 million in CY24, with EBITDA margins close to 19%.
About 65% of its revenue comes from performance materials, while the rest is linked to life science and related segments. Its customer base spans industries such as semiconductors, aviation, automotive, EVs and electronics.
The company operates a manufacturing site in the US spread over nearly 3million square metres. The site includes 2 manufacturing units and a pilot plant used for development and scale-up work. Management indicated that only a part of the available land is currently utilised, leaving room for future expansion.
As of December 22, 2025, 9:31 am, Anupam Rasayan India share price was trading at ₹1,327.00, a 0.48% decrease from the previous closing price.
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The company indicated that the transaction is expected to close in January 2026, subject to completion of customary conditions and approvals.
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Published on: Dec 22, 2025, 11:49 AM IST
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