Sumitomo completed the acquisition of Saconix from Tailwater Capital.

Sumitomo, a trading and business investment company, completed the acquisition of Saconix, a company engaged in the procurement, sale, storage and distribution of sulfuric acid, from Tailwater Capital, an energy and growth infrastructure private equity firm. Financial terms were not disclosed. "We identified Saconix as a strategic investment because its business model is extremely compatible with our current investments, and brings a high potential of growth synergy for our Sulfuric Acid business in the US, increasing our global competitiveness. We expect to provide additional value and high service to our customers through the strong synergies of our global Sulfuric Acid business," Masaya Sato, General Manager SCOA Basic Chemical Group.