Brenntag Announce Multisol Group Acquisition
22 February 2012PRESS RELEASE
Multisol Group Limited acquired by Brenntag, the global market leader in full-line chemical distribution.
Multisol Group Limited, the UK headquartered distributor of high value specialty chemicals, announces the sale of the Multisol Group of companies, including Zenteum Limited, to Brenntag.
Multisol is a specialist in the distribution of lubricant additives, high quality base oils and performance fluids in Europe and Africa working with some of the world's largest producers and technology leaders. Multisol's strong position in its chosen markets provides a step change for Brenntag's expansion into lubricant additives and base oils and, at the same time, enhancing their capabilities in mixing and blending.
Multisol operates in various geographic end markets across Europe and Africa, thus ideally complementing Brenntag's existing distribution network. Multisol expects to be able to enhance its own offering post the transaction, both in cross-selling opportunities and accessing Brenntag's global logistics capability. By combining sales activities in the UK, Western Europe, CEE and Africa and the cross-selling of product portfolios to a wider customer base, the companies aim for continued growth in existing and new markets.
Paul Oliphant, CEO of Multisol Group, along with Andrew Wilkins (COO) and the senior management team will continue to lead the operating businesses of Multisol and Zenteum.
Paul Oliphant commented: "Over the last few years we have grown our business significantly enhancing our product and service offering and expanding our geographic footprint. We have enjoyed a tremendous period of business growth and support as an independent company. This transaction allows us to become part of a dynamic global company providing us with the assets to support our continued growth opportunities and improve our service to both our customers and suppliers".
Recognising the strategic fit and market positioning of the Multisol business, Steve Holland, CEO of Brenntag, comments: "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".
As usual for transactions of this kind, the completion of this acquisition is subject to certain merger control clearances which are expected to be obtained during the 4th quarter of 2011.
For additional information on Multisol Group please refer to http://www.multisolgroup.com/