Elementis is set to buy SummitReheis in a bid to grow its personal care business, according to a report published by Reuters.

The UK specialty chemicals producer is said to have agreed to buy the US firm for US$360 million from owner One Rock Capital Partners. The deal is expected to boost Elementis’ annual sales of personal care chemicals to US$200 million as well as improving margins and delivering cost synergies of up to US$3 million a year.

“We’ve got opportunities to grow organically in mature markets as well as emerging markets; going forward we will be opportunistic,” Paul Waterman, CEO of Elementis, told Reuters.