Vertellus acquires New Jersey oil company-WEB ONLY

Indianapolis-based Vertellus Specialties Inc. has acquired Degen Oil & Chemical Co., a New Jersey-based manufacturer of alkyd resins and specialty vegetable, nut and fish oils, the companies announced yesterday.

Terms of the deal, which closed July 1, were not disclosed.

Vertellus, which develops and manufactures specialty chemicals used for pharmaceutical, personal care, nutrition and agricultural purposes, made the acquisition through its Greensboro, N.C.-based Vertellus Performance Materials Inc. affiliate.

The assets of Degen Oil & Chemical, founded in Jersey City in 1957, will be integrated into existing Vertellus facilities in Bayonne, N.J. and Greensboro.

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