Sudarshan Chemical completes Heubach Group acquisition

Sudarshan Chemical Industries (SCIL) announced that through its wholly owned subsidiary Sudarshan Europe BV, it has completed its previously announced acquisition of Germany-based Heubach Group in a combination of an asset and share deal.

This strategic acquisition creates a global pigment leader, combining SCIL’s operations and expertise with Heubach's technological capabilities. It will enhance SCIL’s product portfolio, giving it access to a diversified asset footprint across 19 international sites. The combined company will have a broad portfolio of high-quality pigment products and a strong presence in major markets, including Europe and the Americas. Rajesh Rathi will lead the combined company as managing director and chief executive officer, alongside a high-performing leadership team with techno-managerial competencies.

Over the past two years, Heubach has faced financial challenges due to rising costs, inventory issues, and high interest rates. SCIL’s acquisition of Heubach will address these challenges with a clear turnaround plan.

Commenting on the closure of the acquisition, Rathi said, “Our goal is now to create the world’s most valuable pigment company with great financial strength and profitability.

He added, “Together, we will drive continuous innovation and deliver breakthrough solutions that benefit each of our stakeholders.”

The immediate priority will be to operate as one—unlocking efficiencies, driving synergies, and fully integrating legacy Clariant, Heubach, and Sudarshan into a unified, stronger organisation with shared values.

Germany remains a strategic location for SCIL. By establishing its second global headquarters in Frankfurt, the company underscores the region’s role as a key pillar of its operations and future growth.

SCIL will also focus on financial stability, prudent cash management, and investing for the long term.

Noerr and Crawford Bayley acted as legal counsel to Sudarshan.