Nexeo Solutions to acquire Mexico’s Ultra Chem specialty chemicals distribution unit
Nexeo Solutions has entered into an agreement to acquire Mexico-based Ultra Chem’s speciality chemical marketing and distribution business.
Financial details of the deal, facilitated through a proprietary deal process, have not been disclosed by both the companies.
This new acquisition is reported to be in line with Nexeo Solutions’ commitment to expanding its presence in speciality chemicals.
Nexeo Solutions president and CEO David Bradley said: “Acquiring Ultra Chem is aligned with our strategic objectives and accomplishes two goals. It expands our overall speciality mix and extends our chemical reach into Mexico.
“Ultra Chem is a strong cultural fit with complementary end markets and current margins that are immediately accretive.”
Ultra Chem has been working with some of the speciality chemicals producers in Mexico and Latin American region.
Established in 2000, Ultra Chem represents major global producers in Mexico and Latin America and has been engaged in sales, marketing and distribution of speciality chemicals. It offers a wide-ranging product portfolio with a focus in various industries, including industrial chemicals, plastics, coatings, paints, inks and adhesives.
Ultra Chem Board officials said: “This agreement is an important step in Ultra Chem’s history and represents an undeniable acknowledgement of our people’s talent and of our company’s trajectory in the industry.
“We are very enthusiastic about the growth opportunities that this deal will create for our business in Mexico and in Latin America.”
The acquisition is expected to close during the second calendar quarter of this year and is subject to customary closing conditions and regulatory approvals.