Brenntag to Acquire Solventis Group

Brenntag, one of the world's leading chemical substance and component distributors, announced it has agreed to acquire Solventis Group, a glycols and solvents distributor operating in Antwerp, Belgium and the United Kingdom. Ewout van Jarwaarde, Chief Executive Officer of Brenntag Essentials, stated: "Brenntag Essentials combines regional sourcing and supply chain services with a cost-effective service operations network utilizing global sourcing. Solventis Group presents a solution highly aligned with our strategy, creating cross-regional optimization potential while adding organizational capacity and volume optionality to our regional operations through its state-of-the-art facilities in Antwerp. This acquisition will strengthen our regional market position and customer proximity in EMEA while supporting our integration with increasingly global supply markets." Founded in 2002 and headquartered in the United Kingdom, the family-owned company Solventis encompasses various entities including Kilfrost Europe, Antwerp Distillation Company, Solventis Solutions and Solvenox. The group achieved annual sales exceeding EUR 300 million in 2022. Specialized in the distribution of glycols and solvents, Solventis Group provides tailored solutions to a diverse global customer base. The company operates a dedicated facility at the Port of Antwerp in Belgium, one of Europe's major chemical hubs, engaged in advanced blending, storage, packaging, distribution and chemical recycling, alongside its facility in Scunthorpe, United Kingdom. Financial details of the transaction were not disclosed. Completion of the transaction is subject to satisfaction of standard conditions, including receipt of regulatory approvals. Closing is expected to occur in the second quarter of 2024. Source