Brenntag, a global market leader in chemical and ingredients distribution has acquired ICL Packed Ltd, a subsidiary of Industrial Chemicals Ltd (ICL), a specialist in the distribution of packaged chemicals for water treatment operating from the UK. Brenntag expects the acquisition to generate £11 million in sales this financial year.
ICL will continue to manufacture and distribute bulk chemicals, whilst investing in additional capacity in key chemicals for the UK.
Steven Swaby is FD at ICL and said: “This transaction represents a major strategic move for our business, strengthening our investment in UK manufacturing, ensuring that we have the capability and resilience to meet the UK chemicals markets requirements for the future.”
“The team at Mills & Reeve were great to deal with; always responsive, commercially aware and willing to do whatever it took to get the deal done on time – we work in a highly regulated sector and had great confidence that the team at Mills & Reeve could look after us and provide a seamless service across the various issues, working alongside our corporate finance advisers at FRP.”
James Hunter, corporate partner at Mills & Reeve said: “Congratulations to the team at ICL – we really enjoyed working with them and with Chris Adlam at FRP Advisory. We fielded a multi-disciplinary team to cover some complex preliminary steps which were needed to separate the packaged business from the bulk business and then the sale itself as well as important ongoing supply arrangements between these two chemicals businesses.”