Pharmachem Innovations has launched as an independent nutraceuticals provider after its acquisition from Ashland by Turnspire Capital Partners.
The new US company, which is headquartered in Kearny, New Jersey, has significant expertise in the development and production of a range of specialised nutraceuticals.
It also has a range of manufacturing facilities across the US and Mexico which can produce a range of own-brand and private labelled products which are suitable for use in hydration, as well as women's, cardiovascular and joint health.
Pharmachem Innovations will also provide custom formulation and manufacturing services to the nutraceutical market, specialising in formula design, finished product manufacturing and ingredient sourcing.
The company has appointed Maurice Murphy, an Operating Partner associated with Turnspire, to be the Executive Chair of the Board.
Mr Murphy was previously the CEO of UPG, a complex plastic parts manufacturer, and will now lead the company's business strategy.
Maurice commented: “As an independent company with Turnspire’s support, we will be able to accelerate the Company’s growth through close partnerships with high-caliber customers and investments in new capabilities.”
Pharmachem has also allocated Jeff Rogers, an executive with years of experience in the ingredients sector, as Interim CEO.
He has previously held leadership roles at Ashland, Lonza, AzkoNobel and — most recently — as the COO of Niacet.
As well as Maurice and Jeff, Pharmachem will be led by the members of its current management team.