We weren’t looking to sell PCI Synthesis. I co-founded a company 22 years ago called Polycarbon Industries Inc. a small scale chemical manufacturer that eventually became PCI Synthesis. Raising funds from family and friends, our niche at the time was tens of kilos—we were not a company who had big vessels, so we did not do large projects and we did not do very sophisticated, small-volume chemistry.
In 2005, there was a fire in our facility in Leominster, and we had to shut down the company for a while – while keeping staff on the payroll to figure our path forward. In 2006, we purchased our current headquarters in Newburyport, which was basically like putting together two different companies.
Recognizing that dozens of entities around Boston required outsourcing expertise, we developed a new corporate strategy to offer
After the stock market crash of 2010, we watched the contract business dry up pretty aggressively. We were very lucky because we had a generic API that got approved that year—so, while other companies were laying people off, we were actually growing a little bit and were much better off.
We took that lesson—the lack of contract business in 2009 and 2010 and basically said, “You know, what we need to do is develop a portfolio of commercial products.”
Again, we recognized it was time to develop a new corporate vision, focusing on:
And now, we’re at another inflection point for the company. We have agreed to be acquired by the Novacap Group, a billion-dollar French-based player in the pharmaceutical synthesis and advanced specialties industries.
While we were not looking to sell the company, we found a lot to like about Novacap’s values and vision. There has been tremendous consolidation in our industry over the last few years, and we saw this as an opportunity to offer our customers access to some of the best facilities and technical expertise in the world, significantly more than PCI Synthesis could have ever offered as a stand-alone company.
This month we will conclude our fifth consecutive year of year-over-year double-digit growth that would not have been possible without the hard work of our team and the trust that all of our partners and customers have placed in us during these last few years.
We have always strived to offer world class development and manufacturing services, pro-active project management, and the ability to scale up and supply all of our customers’ needs within one organization. We can now offer you more than ever.
After more than 20 years, this represents the next chapter in the lives of PCI Synthesis and our customers, and we look forward to continuing to work with you.
Please let us know if you have any questions, now or in the future.