British speciality chemicals maker Elementis Plc (ELM.L) said on Friday it would buy U.S.-based SummitReheis from an affiliate of private equity firm One Rock Capital Partners LLC for an enterprise value of $360 million to expand its personal care chemicals business.

Shares in Elementis rose as much as 9.8 percent to 302.10 pence, before paring some of the gains to trade 6.6 percent higher by 1000 GMT.

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

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