02 July 2012 15:31 [Source: ICIS news]
LONDON (ICIS)--Brenntag has acquired Australia-based specialty chemicals distribution company ISM/Salkat Group for an undisclosed amount, the German chemical distributor said on Monday.
Brenntag said it will start integrating its existing organisation with the ISM/Salkat Group shortly after completion of the transaction, which is expected to close in July 2012.
ISM/Salkat Group is a leading distributor of specialty chemicals in ?xml:namespace>
“The acquisition of the ISM/Salkat Group represents a huge step to achieve our strategic position as a full-line chemical distributor with an established and competitive platform in Asia-Pacific,” said Brenntag CEO Steve Holland.
“The acquisition represents a quantum leap for the network and know-how for Brenntag in
Brenntag said that the ISM/Salkat Group expects sales of A$117m ($119m, €94m) in 2012.
“I am excited at the positive prospects this transaction will bring to all our stakeholders. The strong cultural and commercial fit - and the common objective of providing a global service to our customers and principals will ensure that the legacy of ISM's commitment to the Australian and
Jurgen Buchsteiner, responsible for M&A activities at the management board of Brenntag, said: “Through this acquisition we can provide our business partners access also to the
($1 = A$0.98, €1 = A$1.24)
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