Brenntag sets annual acquisitions budget at €150m

20 September 2010 17:17  [Source: ICIS news]

PRAGUE (ICIS)--Brenntag has set its annual acquisitions budget at €150m ($194.8m), the Germany-based chemical distributor said on Monday.

“Acquisitions at this amount would allow us additional annual EBITDA (earnings before interest, tax, depreciation and amortisation) generation of €20m-25m,” said Brenntag spokesman Hubertus Spethmann.

“It’s a worldwide budget. Brenntag continuously pursues mergers and acquisitions growth in Europe, North America, Latin America and Asia-Pacific,” he added.

Brenntag, owned by London-based private equity firm BC Capital, in late March raised €747.5m in an initial public offering (IPO).

One of its largest acquisitions this year was that of Thailand-based chemical distributor EAC Industrial Ingredients (EAC II), which Brenntag bought outright for €160m.

Brenntag claims global market leadership in “full-line” chemicals distribution, with 2009 revenues of €6.4bn.

($1 = €0.77)

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By: Will Conroy
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