Cheshire chemicals distribution firm Multisol has been acquired by German industrial group Brenntag in a deal worth more than £112m,
Nantwich-based Multisol, which had been looking to list on AIM last year, was advised by Warrington-based corporate finance house Dow Schofield Watts in the sale.
Multisol distributes of lubricant additives and base oils throughout Europe and Africa. In the next financial year it is expecting to generate ebitda of £19m on sales of £238m.
The company, which has a sales office in Irlam, employs 170 people. It also has subsidiaries in France, Spain and South Africa.
Brenntag said the enterprise value of the acquisition was £112.1m, but did not provide further details.
Chief executive Paul Oliphant, who is remaining with the business along with the rest of the management team said: “We are pleased to become an important part of such a dynamic company. Multisol has grown significantly over the years and being part of the Brenntag global network will provide us with the assets to support our growth opportunities and improve our service to both our customers and suppliers.”
Steven Holland, CEO of Brenntag, which is among the world’s largest chemical distribution companies said: “Multisol seamlessly fits into our strategic approach to enlarge our product focus of specialty chemicals including value added services in our core markets in the UK, Western Europe, Central and Eastern Europe and Africa.”