Announced
Financials
Tags
speciality chemicals manufacture
chemicals
Pending
Specialty Chemicals
Acquisition
United Kingdom
operating equipments
Friendly
Private
Single Bidder
Majority
Synopsis
Quaker Houghton, a producer of industrial fluids, agreed to acquire the operating division of Norman Hay, a specialty chemical manufacturer, for $97m. This transaction is consistent with Quaker Houghton's strategy to increase shareholder value through strategic "bolt-on" acquisitions that complement its existing business. "This acquisition represents an opportunity to add new technologies with good growth characteristics in attractive core market segments with high barriers to entry such as die-casting, automotive OEM and aerospace." Michael F. Barry, Quaker Houghton CEO.
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