NewMarket Corporation Completes the Acquisition of Calca Solutions, LLC
NewMarket Corporation (NYSE:NEU) today announced that it has completed the acquisition of Mars TopCo, LLC, the ultimate parent company of Calca Solutions, LLC (Calca). Calca was previously a portfolio company of AE Industrial Partners, LP.
Headquartered in Lake Charles, Louisiana, Calca is the nation's leading producer of UltraPure and high-purity hydrazine – essential, mission-critical propellants that enable advanced aerospace and defense applications. Calca's products are integral to in-space propulsion systems for satellites, space probes, and other vehicles that operate in the most demanding environments. For more than 70 years, Calca has been the trusted supplier of high-purity hydrazine to the U.S. Department of Defense's Defense Logistics Agency – Energy.
With a team of approximately 30 employees and annual revenue of less than $100 million, Calca combines expert technical know-how with a proven legacy of reliability, safety, and performance. This acquisition strengthens NewMarket's strategic investment in resilient, high-technology sectors that demand quality and innovation.
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 very excited about closing the acquisition of Calca and would like to welcome the entire Calca team into the NewMarket family. We look forward to working with them and growing together. While we remain focused on our core petroleum additives business, since 2024, through our acquisitions of American Pacific Corporation (AMPAC) and Calca and our investments to expand capacity at both operations, we have committed approximately $1 billion in pursuing our acquisition and diversification strategies."
The acquisition closed on October 1, 2025, and was funded by cash on hand and borrowings under our revolving credit facility. Calca will be managed as a separate business within our specialty materials segment. We believe Calca will be accretive to net income in 2026.
In addition to the acquired Calca business, NewMarket Corporation is a holding company operating through its subsidiaries, Afton Chemical Corporation (Afton), Ethyl Corporation (Ethyl), and 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.
Some of the information contained in this press release constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although NewMarket's management believes its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results will not differ materially from expectations.
Factors that could cause actual results to differ materially from expectations include, but are not limited to, an inability to retain key personnel and maintain relationships with suppliers and customers of Calca, to successfully integrate Calca into our business and operations or to otherwise realize the expected benefits from our acquisition of Calca, as well as other factors detailed from time to time in the reports that NewMarket files with the Securities and Exchange Commission, including the risk factors in Item 1A. "Risk Factors" of our Annual Report on Form 10-K for the year ended December 31, 2024, which is available to shareholders upon request.
You should keep in mind that any forward-looking statement made by NewMarket in the foregoing discussion speaks only as of the date on which such forward-looking statement is made. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. We have no duty to, and do not intend to, update or revise the forward-looking statements in this discussion after the date hereof, except as may be required by law. In light of these risks and uncertainties, you should keep in mind that the events described in any forward-looking statement made in this discussion, or elsewhere, might not occur.
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Timothy K. Fitzgerald
Investor Relations
Phone: 804.788.5555
Email: [email protected]