The chemicals distributor has locations in Costa Rica, Guatemala, El Salvador, Panama and Honduras
Founded in 1983, the company operates across Costa Rica, Guatemala, El Salvador, Panama and Honduras, and in sectors including beauty and personal care.
Beyond cosmetics, it provides pharmaceutical excipients and materials for food, coatings, adhesives, sealants and elastomers, lubricants and metalworking fluids.
"The ChemSol business strengthens both our ingredients and specialties portfolio, and our geographic reach," commented Nick Powell, President of Global Ingredients & Specialties at Univar Solutions.
Ciro Guerra, founder and General Director of ChemSol Group, meanwhile, added that the deal would “provide... customers and suppliers with access to more products, capabilities and digital innovation”.
ChemSol’s purchase follows Univar Solutions’ January announcement that it would acquire Turkish specialty chemicals distributor Kale Kimya.
It also adds to an M&A and investment-rich month in the cosmetic ingredients space.
Earlier in February, Symrise acquired a minority stake in Synergio, a Jerusalem-based company specialising in natural antimicrobial combinations obtained through sustainable sourcing, while Croda announced that it was buying South Korea’s Solus Biotech, which manufactures ceramides and phospholipids.