Brenntag [ISIN DE000A1DAHH0], the global market leader in chemicals and ingredients distribution, has announced the agreement to acquire Solventis Group, a glycols and solvents distribution company operating from Antwerp, Belgium, and from the UK.
Ewout van Jarwaarde, Chief Executive Officer Brenntag Essentials, said:
“Brenntag Essentials combines a cost-efficient network of last mile service operations with regional sourcing and supply chain services, and global sourcing.
Solventis Group is a highly compatible fit to our strategy, adding tollgate capabilities and volume optionality via their Antwerp state-of-the-art site to our regional capacities, while opening interregional optimization potential.
The acquisition will support our integration with increasingly global supply markets while strengthening our regional market position and customer proximity in EMEA.”
Established in 2002 and based in the United Kingdom, the family-owned company encompasses various entities, including Solventis, Kilfrost Europe, Antwerp Distillation Company, Solventis Solutions, and Solvenox. In 2022, the group reported annual sales of over 300 million EUR.
Specializing in the distribution of glycols and solvents, Solventis Group provides tailored solutions to a diverse global customer base. Alongside a site in Scunthorpe, UK, the company operates a purpose-built facility in the port of Antwerp, Belgium, a major European chemicals hub, engaging in advanced blending, storage, packing, distribution, and chemical recycling.
Financial details of the deal are not being disclosed. The completion of the transaction is contingent upon meeting standard conditions, which include obtaining regulatory approvals. It is anticipated that the closing will occur in the second quarter of 2024.
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