OM Group

OM Group was an American specialty-chemicals and advanced-materials company whose roots lay in Mooney Chemical Company, a Cleveland business founded in 1946. The company developed from a family-owned supplier of cobalt and related materials into an international producer serving thousands of industrial customers. Its activities eventually covered cobalt-based chemicals, battery materials, magnetic technologies, electronic chemicals, ultra-pure chemicals, printed-circuit-board processing products, photomasks, and other specialized materials and technologies. The modern OM Group emerged from a combination involving Mooney Chemicals, Finland’s Kokkola Chemicals Oy, and France’s Vasset SA. The business was initially associated with Outokumpu Metals Group, but Kokkola’s ownership was spun off in 1993, leading to the formation of OM Group Inc. The company’s heritage in cobalt supply was linked to relationships with copper and nickel mining operations in central and southern Africa, including areas then known as Zaire and Zambia. This resource and processing background helped establish the company in cobalt specialty chemicals, while later acquisitions and joint ventures broadened its geographic and technological scope. During the 1990s, OM Group expanded internationally and added capacity in specialty chemicals. It also entered chemical recycling through the acquisition of Apex Mining from Hecla Mining and formed a Japan-based joint venture with Dainippon Ink & Chemicals to pursue the Japanese market for cobalt-nickel inorganic compounds. Over time, the company organized its operations into businesses including Advanced Organics, Advanced Materials, Electronic Chemicals, Compugraphics, Ultra Pure Chemicals, and Battery Technologies. Its principal platforms were described as magnetic technologies, battery technologies, and specialty chemicals. OM Group’s portfolio continued to change through acquisitions. In 2007 it bought the electronics businesses of Rockwood Holdings, adding printed-circuit-board chemicals, ultra-pure chemicals, and photomask operations. In 2010 it acquired EaglePicher Technologies, expanding its battery-related capabilities. In 2014 it purchased Ener-Tek International, a developer and manufacturer of high-performance lithium-ion and silver-zinc cells and batteries for specialized defense and aerospace uses. The company served more than 4,000 customers across over 50 industries, with operations or locations reported in North America, Europe, Asia, and Africa. Its end markets included automotive systems, electronic devices, aerospace, industrial equipment, renewable energy, and other applications requiring specialized chemical or material performance. After weaker industrial activity in Europe contributed to declining sales, OM Group agreed in June 2015 to be acquired and taken private by affiliates of Apollo Global Management in a cash transaction reported at approximately $1.03 billion. The public OM Group identity subsequently ended. In November 2015, the company announced that it would change its name to Vectra and relocate its headquarters to St. Louis, Missouri. The former OM Group therefore survives mainly through successor operations and divested businesses rather than as an independent publicly listed company.

OM Group’s origins can be traced to Mooney Chemical Company, established in Cleveland in 1946 by James Mooney and Carl A. Reusser. Mooney developed commercial relationships with copper and nickel mining interests in central and southern Africa and became an important supplier of cobalt and related materials. These relationships gave the company a foundation in cobalt specialty chemicals, a field in which supply access, refining expertise, and consistent product quality were important competitive factors. The family-owned company expanded its product range through selected acquisitions. Businesses associated with Mobil Oil, Lauder Chemical, and Harshaw Chemical were added during the 1960s, 1970s, and 1980s. James P. Mooney, one of James Mooney’s sons, joined the company in the 1970s and later became part of its leadership. By the mid-1980s, the business remained relatively small in headcount but had developed a broader chemicals portfolio. In 1991, after more than four decades of family ownership, the company began seeking new ownership and strategic arrangements. The modern OM Group structure grew out of a combination of Mooney Chemicals, Finland’s Kokkola Chemicals Oy, and France’s Vasset SA. The combined organization was initially associated with the name Outokumpu Metals Group and operated as a subsidiary of the Finnish company. Kokkola later spun off most of its ownership, and OM Group Inc. was established in 1993, with Mooney retaining a minority interest at that stage. The combination accelerated international expansion. Foreign sales increased substantially during the 1990s, and OM Group invested in new specialty-chemical capacity, including a reported $19.7 million plant investment in 1994. In 1995, the company entered a Japan-based joint venture with Dainippon Ink & Chemicals to pursue cobalt-nickel inorganic compounds. It also entered chemical recycling through the acquisition of Hecla Mining’s Apex mining division in Utah. OM Group subsequently developed into a diversified materials company. Its businesses included advanced organics, advanced materials, electronic chemicals, Compugraphics, ultra-pure chemicals, and battery technologies. The company described its major platforms as magnetic technologies, battery technologies, and specialty chemicals. Its products served automotive systems, electronics, aerospace, industrial applications, renewable energy, and other sectors. The reported operating footprint included the United States, Canada, China, the Democratic Republic of the Congo, France, Finland, Germany, India, Japan, Malaysia, Singapore, Taiwan, and the United Kingdom. A sequence of acquisitions broadened the portfolio further. In August 2007, OM Group bought the electronics operations of Rockwood Holdings, gaining printed-circuit-board chemicals, ultra-pure chemicals, and photomask capabilities. In 2010, EaglePicher Technologies was acquired, adding battery-related products and technologies. In October 2014, OM Group acquired Ener-Tek International for a reported $24 million; Ener-Tek specialized in high-performance lithium-ion and silver-zinc cells and batteries for defense and aerospace applications. Weak industrial conditions in Europe and associated sales pressure contributed to a strategic change in 2015. OM Group agreed to be acquired by Apollo Global Management and taken private in a transaction reported at about $1.03 billion in cash. On November 23, 2015, the company announced that it would adopt the name Vectra and move its headquarters to St. Louis, Missouri. This ended OM Group’s public-company identity. Vectra later continued to restructure the inherited portfolio, including the 2017 sale of its Borchers business to affiliates of The Jordan Company.

• 2015

  Privatization and transition to Vectra

  [1]OM Groupen.wikipedia.org

  Apollo Global Management acquired OM Group, after which the business announced the Vectra name and a headquarters move to St. Louis.

• 2014

  Ener-Tek International acquired

  [1]OM Groupen.wikipedia.org

  The company added specialized lithium-ion and silver-zinc cell and battery capabilities for defense and aerospace applications.

• 2010

  EaglePicher Technologies acquired

  [1]OM Groupen.wikipedia.org

  OM Group expanded its battery-technology portfolio through the purchase of EaglePicher Technologies.

• 2007

  Rockwood electronics businesses acquired

  [1]OM Groupen.wikipedia.org

  The acquisition added printed-circuit-board chemicals, ultra-pure chemicals, and photomask operations.

• 1995

  Japanese joint venture and recycling expansion

  [1]OM Groupen.wikipedia.org

  The company formed a Japan-based venture with Dainippon Ink & Chemicals and entered chemical recycling through the Apex mining-division acquisition.

• 1994

  Specialty-chemicals capacity expanded

  [1]OM Groupen.wikipedia.org

  OM Group invested in a physical plant to increase specialty-chemical production capacity.

• 1993

  OM Group Inc. established

  [1]OM Groupen.wikipedia.org

  Following the separation of Kokkola Chemicals’ ownership from Outokumpu, OM Group Inc. was established as an independent corporate structure.

• 1991

  OM Group formation process began

  [1]OM Groupen.wikipedia.org

  The business began seeking new ownership and became part of the combination that developed into the modern OM Group.

• 1946

  Mooney Chemical Company founded

  [1]OM Groupen.wikipedia.org

  James Mooney and Carl A. Reusser founded Mooney Chemical Company in Cleveland, creating the corporate predecessor of OM Group.

A global supplier of specialty chemicals, advanced materials, battery technologies, and electronics-processing materials for technically demanding industrial markets.

• Specialty chemicals

  Cobalt specialty chemicals

  Cobalt-based chemicals were central to OM Group’s historical identity and reflected the company’s origins in supplying and processing materials associated with copper and nickel mining. These products supported industrial and advanced-material applications and formed one of the company’s principal specialty-chemical platforms.

• Battery materials and power systems

  Battery Technologies

  OM Group’s battery activities covered materials, cells, and specialized battery technologies. The portfolio was expanded through EaglePicher Technologies and Ener-Tek International and included lithium-ion and silver-zinc products intended for demanding applications, including defense and aerospace.

• Electronic materials · 2007

  Electronic Chemicals and Ultra Pure Chemicals

  These operations supplied high-purity chemical products and processing materials for electronics manufacturing. The platform was strengthened by the 2007 acquisition of Rockwood Holdings’ electronics businesses, which included ultra-pure chemicals and related electronics capabilities.

• Electronics manufacturing materials · 2007

  Printed-circuit-board chemicals and photomasks

  The Rockwood electronics acquisition added chemicals used in printed-circuit-board production and photomask operations. These products complemented OM Group’s broader electronic-materials activities and served specialized manufacturing customers.

• Advanced materials

  Magnetic technologies

  Magnetic technologies were identified as one of OM Group’s three principal business platforms. The platform used the company’s materials and chemistry expertise to serve industrial and technology applications requiring controlled magnetic performance.

• 2015

  Accept Apollo Global Management privatizationM&A

  Background

  The decision followed weaker industrial activity in Europe and declining sales during the preceding period.

  Action taken

  OM Group agreed to be acquired for cash by Apollo Global Management and to cease operating as a public company.

  Aftermath

  The company announced the Vectra name, moved its headquarters to St. Louis, and ended the OM Group corporate identity.

  Reported transaction value. Approximately $1.03 billion in cash (June 2015)

  Source

• 2014

  Acquire Ener-Tek InternationalM&A

  Background

  OM Group pursued specialized battery capabilities for technically demanding defense and aerospace markets.

  Action taken

  The company acquired Ener-Tek International, a developer and manufacturer of lithium-ion and silver-zinc cells and batteries.

  Aftermath

  The acquisition strengthened the Battery Technologies platform and added niche high-performance power products.

  Acquisition price. $24 million (2014 transaction)

  Source

• 2007

  Acquire Rockwood electronics operationsM&A

  Background

  OM Group sought to broaden its specialty-materials portfolio into electronics manufacturing inputs and high-purity chemical products.

  Action taken

  It acquired Rockwood Holdings’ electronics businesses, including printed-circuit-board chemicals, ultra-pure chemicals, and photomasks.

  Aftermath

  The transaction expanded OM Group’s electronic-chemicals and advanced-materials activities.

  Source

1. 1OM Groupen.wikipedia.org
2. 2Vectra completes sale of Borchers businessprnewswire.com