Reykjavik, Iceland, and Redmond, Wash. -- Primex ehf and Vanson HaloSource, Inc., today announced that Primex is acquiring Vanson HaloSource’s comprehensive bulk chitosan operations. The deal marks a strategic milestone for both companies – supporting Primex’s position as an international leader in the chitosan industry, and enabling Vanson HaloSource to target significant value-added opportunities in the marketplace.
Under the agreement, which is effective May 3, Primex will purchase inventory, patents, trademarks, product and application technology, and distribution channels for all bulk chitosan product ranges, including patented LipoSan Ultra® dietary supplement ingredients. Financial details of the transaction were not disclosed.
“We see the acquisition of the Vanson HaloSource’s chitosan operations as a rational step in the business relationship between the two companies. Primex and Vanson have a long history of cooperation since 1998,” said Ulfar Steindorsson, Chairman of Primex. “Combined with our existing market position in both Europe and Asia, strengthening our position in the US market makes Primex the leading supplier of chitosans globally.”
“We view this transition as a win-win for both organizations – it supports VH’s strategic focus on building higher value-added businesses,” said John Kaestle, president and CEO of Vanson HaloSource. “For two decades, we have valued our position as the No. 1 U.S. supplier of bulk chitosan, and now feel this is the perfect opportunity to hand over the reins to such a respected industry colleague.”
Primex takes over the operations of LipoSan Ultra®, the leading chitosan brand in the US nutraceutical market. LipoSan Ultra® is based on patented technology and strong science making it more soluble and effective at binding dietary lipids than other chitosan products. Wilke Resources, Inc. will continue as the exclusive agent for LipoSan Ultra® in the US. “The bringing together of the strengths from the two leading industry players offers us the ability to continue to expand our efforts in the US marketplace,” said Wayne Wilke, President of Wilke Resources Inc. “The combination of Vanson HaloSource’s innovative technology and Primex’s ability to manufacture high quality chitosans will provide our customers with an ongoing source of chitosan products unmatched by anyone.”
Vanson HaloSource will continue to pioneer advanced chitosan-based technologies for its line of SEA-KLEAR® pool and spa care products, Storm-Klear™ stormwater treatment products, and wound- and burn-healing applications for the biomedical market. The company will retain manufacturing facilities in Raymond, Wash., to support production of value-added chitosan applications, as well as its HaloShield™ and HaloPure™ technologies for healthcare, food service, water purification markets, and HaloFresh™ Coolant Xtender™ for the manufacturing industry.
About Primex ehf
Primex ehf is an Icelandic marine biotechnology company, being the world largest manufacturer of chitosans and chitin derivatives, based on fresh shells from North Atlantic shrimp. With facilities in Siglufjordur and Reykjavik, Iceland, and now also Raymond, WA, Primex combines proprietary process technologies and strong market and research expertise to offer products and innovative technologies to the life science industries.
About Vanson HaloSource
Vanson HaloSource employs bioscience technologies to create innovative solutions that enhance life for customers in the water treatment and purification, biomedical, healthcare, manufacturing, and consumer markets. The Redmond, Wash.-based company markets sophisticated applications based on its N-halamine technologies and chitosan formulations. Its hygienic coatings harness chlorine to surfaces and textiles to purify water and improve sanitation in healthcare settings, homes, and other environments. Vanson HaloSource also manufactures a range of chitosan-based products for the pool and spa, water treatment and biomedical industries. The company investors include Alexander Hutton Venture Partners, Buerk Dale Victor LLC, and Britannia Holdings along with other institutional and private investors. More information is available at www.vanson.com.
###
Bjarte Langhelle +354 460 6900
Primex ehf
bjarte.langhelle@primex.no
Sean Manne (425) 974-1931
Vanson HaloSource, Inc.
smanne@vanson.com
Annie Morrow (206) 443-9357
Firmani & Associates, Inc.
annie@firmani.com