Camlin Fine Sciences' Ashish Dandekar ropes in Ackermans & van Haaren, Convergent as co-promoters

Camlin Life Sciences

Ashish Dandekar, managing director of Camlin Fine Sciences Limited (CFS), has pulled in Belgium-based co-promoters Ackermans & van Haaren and funds advised by Convergent Finance LLP to join him as CFS co-promoters, according to an exchange filing.

CFS is a Mumbai-based specialty chemicals company with operations across Asia-Pacific, Europe and the Americas.

Ashish, CFS’ current promoter, is looking to drive the company’s business strategy of becoming a leading global provider of diverse specialty chemicals by leveraging the expertise of Ackermans & van Haaren and Convergent. Ackermans & van Haaren joined the agreement through its wholly-owned subsidiary Anfima NV.

The cooperation agreement is likely to close during the quarter ending September 2023, subject to certain regulatory conditions.

Also read: Here are the multibagger microcap stocks held by PMS managers. Do you own any?

Ackermans & van Haaren is a prominent independent and diversified group of with a market capitalisation of more than $5 billion. Convergent is a five-year-old investment management and advisory partnership. Both entities will bring to the table their global networks and industrial expertise in corporate governance and capital allocation.

Under Dandekar, CFS is now a vertically-integrated company, which is engaged in the research, development, manufacturing, commercialising, and marketing of products that serve industries like foods and fragrances, pharmaceuticals, agro-chemicals, animal feed, pet food, and bio-diesel.

(This is a developing story, please come back for updates)