PeroxyChem, which a has a chemical manufacturing plant in the Town of Tonawanda with 92 employees, was sold to Evonik as part of a $640 million deal.
Evonik, a specialty chemical company based in Germany, struck a deal to buy PeroxyChem in late 2018. But the Federal Trade Commission sued last August to block the sale, citing antitrust concerns. A federal judge dismissed the suit, clearing the way for Evonik to complete the deal.
PeroxyChem, based in Philadelphia, has been owned by One Equity Partners, which was formerly JPMorgan Chase's global private investment arm. PeroxyChem operated as a division of FMC until it was sold to One Equity Partners in 2014.
The Tonawanda plant on Sawyer Avenue produces persulfates and peracetic acid. Persulfates are a powerful salt used in energy extraction and the high-tech industry, while peracetic acid is a sanitizer, disinfectant and sterilant used in a variety of industries.