Chemical producer Nippon Shokubai will acquire monomer and derivative developer Sirrus, which had raised $35m in equity funding from investors including Mitsui and General Motors.
Chemical supplier Nippon Shokubai has agreed to acquire US-based chemical producer Sirrus for an undisclosed sum, allowing carmaker General Motors and diversified conglomerate Mitsui to exit.
Founded in 2009 as Bioformix, Sirrus makes monomers and derivatives that enhance performance and cut energy consumption in advanced manufacturing and assembly processes.
The company will operate as an independent subsidiary of Nippon Shokubai, and expects to make use of its manufacturing, regulatory, capital planning, sales and marketing resources as it looks to speed…
