Bain Capital-Backed Novopor Expands US Footprint with FAR Chemical Acquisition

Novopor Advanced Science Private Limited, a Bain Capital portfolio company and global performance chemicals and material science CDMO, today announced its acquisition of FAR Chemical, a US-based leader in custom and complex specialty chemical manufacturing focused on Electronics, Aerospace & Defense, Coatings & Adhesives and other Specialty Chemicals, from its US parent CPS Performance Materials Group.

The acquisition of FAR Chemical is a key milestone in Novopor’s strategy to build an integrated specialty chemical platform that delivers end-to-end solutions to customers ranging from early-stage process development to commercial scale manufacturing. Integrating FAR Chemical’s deep expertise in complex chemistries and attractive end markets complements Novopor’s existing capabilities and expands its US presence.

“FAR Chemical’s deep expertise in differentiated, complex chemistries and long track record of working with global performance chemical and material science companies make it a strategic fit with Novopor’s mission to drive innovation and deliver custom solutions. This acquisition enhances our ability to support a broader range of chemistries, accelerate time-to-market for new products, and strengthen our presence in key high-growth markets,” said Radhesh Welling, MD of Novopor Advanced Science Private Limited.

“FAR Chemical is a respected operator with a proven track record in complex specialty chemical manufacturing. The combination of FAR Chemical with Novopor strengthens the platform’s technical depth, geographic reach, and ability to support customers across the full product lifecycle. This investment underlines our continued commitment to building market-leading businesses through strategic acquisitions and operational excellence,” said Saahil Bhatia, Partner of Bain Capital.

“FAR Chemical and CPS Performance Materials have established a differentiated platform grounded in deep technical expertise, an uncompromising commitment to safety, and a strong track record of delivering innovative solutions for customers with unique and challenging development needs,” said Justin O’Connor, President of FAR Chemical. “This partnership strengthens our ability to invest in advanced capabilities while maintaining the highest standards of safety and operational discipline and enhances our ability to support customers seamlessly from development through commercial-scale manufacturing. We are proud to join Novopor in building a platform defined by technical excellence, a safety-first culture, and an unwavering commitment to our customers.”

Novopor Advanced Science, backed by Bain Capital, has been executing a strategy of targeted investments and acquisitions to expand its global footprint and technical portfolio. In 2025, Novopor acquired Pressure Chemical Company, a Pittsburgh-based specialty chemical and high-pressure chemistry expert, broadening its development-to-manufacturing capabilities and reinforcing its presence in the US market. Additionally, Novopor inaugurated a state-of-the-art Pilot Plant Facility in Visakhapatnam, designed to bridge early-stage R&D with commercial-scale production and accelerate innovation across agrochemicals, performance materials, and specialty chemicals.

KPMG served as financial advisors, Alvarez & Marsal served as technical advisors, and Honigman LLP, Khaitan & Co and Clifford Chance LLP served as legal advisors to Novopor. Raymond James, Forvis Mazars and Thompson Hine LLP served as advisors to FAR Chemical.

About Novopor Advanced Science Private Limited

Novopor, a Bain Capital portfolio company, is a performance chemicals and material science leader focused on enabling sustainable innovation through strategic partnerships. The company collaborates with leading global customers across agrochemicals, performance chemicals, and material science, providing solutions from development through commercial manufacturing. Novopor operates state-of-the-art R&D and innovation centers in Hyderabad and manufacturing sites in Andhra Pradesh and Gujarat, India.

About FAR Chemical

Founded in 1982 and headquartered in Palm Bay, Florida, FAR Chemical has a distinguished history of operating for over 40 years in delivering high-quality specialty and fine chemical products and services to customers across multiple industries, including pharmaceuticals, advanced materials, coatings and adhesives, electronics, and industrial specialties. The company is recognized for its expertise in complex and hazardous chemistry, custom and toll manufacturing, chemical development, repackaging, and analytical support.