Sudarshan Chemical completes acquisition of Heubach Group
Mumbai, March 3rd, 2025 – Sudarshan Chemical Industries Limited (“SCIL” or “Company”) today announced that through its wholly owned subsidiary Sudarshan Europe B.V., it has completed its previously announced acquisition of Germany-based Heubach Group (“Heubach”) in a combination of an asset and share deal.
- Expands Sudarshan’s global presence with operations across 19 sites in all regions.
- Creates a broad pigment portfolio with state-of-the art technologies.
- Sudarshan’s Managing Director, Mr. Rajesh Rathi, will lead the combined entity as CEO.
- Customers benefit from best-in-class portfolio, application expertise, global footprint.
This strategic acquisition creates a global pigment leader, bringing together 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 pigment portfolio of high-quality products and a strong presence in major markets including Europe and the Americas. With that, the new Sudarshan is ideally positioned to deliver high-quality solutions that fit its global customers’ needs. Mr. Rajesh Rathi will lead the combined company as Managing Director and Chief Executive Officer alongside a high-performing leadership team with techno-managerial competencies.
Heubach has a 200-year-old history and became the second largest pigment player in the world after its integration with Clariant in 2022. It had over a billion euros in revenue in FY21 and FY22, with a global footprint especially in Europe, Americas, and the APAC region. Heubach faced financial challenges over the past two years 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, Mr. Rathi said, “Today marks an exciting new chapter as we unite with Heubach to become an inspirational leader in the colorants industry. The combined company builds on the rich legacies of both Sudarshan and Heubach. Our goal is now to create the world’s most valuable pigment company with great financial strength and profitability. Together, we will drive continuous innovation and deliver breakthrough solutions that benefit each of our stakeholders.”
SCIL is proud to have completed the transaction on schedule. The integration team has worked diligently to ensure a smooth transition and has already developed a detailed execution plan across all functions. 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 organization with shared values.
Germany remains a strategic location for SCIL and by establishing its second global headquarters in the Frankfurt area, the company underscores the region’s role as a key pillar of its operations and future growth.
The new SCIL stands for boldness, passion and ambition with strong customer centricity and solution orientation. The integration will foster a culture of agility and entrepreneurship, allowing the company to move quickly and effectively. It will implement best practices and create simplicity in structures, systems, and processes. 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.
About Sudarshan Chemical Industries Ltd.
Sudarshan Chemical Industries Limited, incorporated in 1952, is a leading color solutions provider with an extensive range of organic, inorganic and pearlescent pigments and liquid dispersions. The company has a diversified asset footprint across 19 sites across four continents and serves more than 4,000 customers in more than 100 countries.
For details, contact:
Madhuri D. Sanas
Sudarshan Chemical Industries Limited
Mobile: +91 9623056871
Email: mdsanas@sudarshan.com
Kapil Kulkarni
Adfactors PR
Mobile: +91 9820203787
Email: kapil.kulkarni@adfactorspr.com
