Isochem Inc. has been acquired by a New York City leveraged buyout firm Buckingham Capital Partners, which plans to run the Lockport chemical company under its original name, VanDeMark Chemical.
Buckingham purchased Isochem for an undisclosed amount from Groupe SNPE, a French company that bought the then-named VanDeMark Chemical in November 1999.
Buckingham, which acquired Leicester-based specialty chemical manufacturer CPAC Inc. last month, has been attempting to acquire Isochem for more than a year, said managing partner Albert Naggar.
"We see excellent growth potential," Naggar said in a statement. "The VanDeMark facility is one of the best of its kind in the world for specialty chemicals and the staff has a superb record."
VanDeMark employs about 93 workers in Lockport. The company in April was granted 300 kilowatts of low-cost expansion power by the New York Power Authority as part of a $2 million expansion project that is expected to create three new jobs.
At the time, company officials said the low-cost electricity would help the Lockport factory win projects from a sister facility in Hungary, where fixed costs are substantially higher.
VanDeMark makes phosgene, phosgene derivatives and other chemicals for clients in the pharmaceutical, agricultural, polymer and fine chemical industries.