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, ?xml:namespace>
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)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections