Newmarket Corporation Enters Into Definitive Purchase Agreement To Acquire Mars TopCo, LlC, Ultimate Parent Company Of Calca Solutions, LLC ; Financial Terms Not Disclosed

NewMarket Corporation (NYSE:NEU) today announced its entry into a definitive purchase agreement to acquire Mars TopCo, LLC, the ultimate parent company of Calca Solutions, LLC (Calca). Calca is currently a portfolio company of AE Industrial Partners, LP.

Based in Lake Charles, Louisiana, Calca is the leading U.S. manufacturer of UltraPure and high purity hydrazine – mission critical chemicals used in a wide range of applications. Most notably, these products are utilized for in-space propulsion by satellites, space probes and other space vehicles. Calca has been providing high purity hydrazine to the Department of Defense's Defense Logistics Agency – Energy for over 70 years. Beyond aerospace, Calca's hydrazine derivatives play a vital role in the manufacture of products used in agricultural, pharmaceutical, water treatment, and industrial applications. The acquisition of Calca strengthens NewMarket's position in mission critical chemicals while expanding its presence in resilient market sectors.

NewMarket has been in the manufacturing industry since 1887 and has been in the specialty chemicals business for nearly 100 years. Our company has a long-term commitment to its people, to safety, to providing innovative solutions for our customers, and to making the world a better place. With extensive research, development and testing expertise, we collaborate with our customers to provide the most advanced products, comprehensive testing programs, and superior technical solutions tailored to their individual needs.

Thomas E. Gottwald, NewMarket's Chairman and CEO, said: "We are excited about the opportunity to acquire Calca and adding it to the NewMarket family. With skilled people and sustainable advantages in vital markets, it is a terrific fit with our acquisition and diversification criteria. Calca is our second recent acquisition in the defense and aerospace industries, and we intend to use our technological capability, financial strength, and ultra long-term investment horizon to be the right long-term partner for our defense, aerospace, and all other customers."

The transaction is expected to close in 2025. The closing is conditioned upon the satisfaction or waiver of customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. NewMarket expects to finance the acquisition with available cash and borrowings under its revolving credit facility.

NewMarket Corporation is a holding company operating through its subsidiaries, Afton Chemical Corporation (Afton), Ethyl Corporation (Ethyl), and American Pacific Corporation (AMPAC). The Afton and Ethyl companies develop, manufacture, blend, and deliver chemical additives that enhance the performance of petroleum products. AMPAC is a manufacturer of specialty materials primarily used in solid rocket motors for the aerospace and defense industries. The NewMarket family of companies has a long-term commitment to its people, to safety, to providing innovative solutions for its customers, and to making the world a better place.