Chemical distributor Brenntag signed a purchase agreement to acquire the entire business of the ISM/Salkat Group, a distributor of specialty chemicals in Australia and New Zealand.
"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 Steve Holland, CEO Brenntag Group. "ISM has a strong track record of success and an innovative product portfolio. The acquisition represents a quantum leap for the network and know-how for Brenntag in Australia and New Zealand."
The acquisition significantly expands Brenntag's local supplier base and adds another 1,200 customers to its existing customer base.
ISM/Salkat Group is a specialty chemical distributor with a broad range of products servicing diverse industry segments in partnership with some of the world's largest manufacturers of chemical products.
Brenntag will start integrating its existing organization with the ISM/Salkat Group shortly after closing. The ISM/Salkat Group expects sales of AUD 117 million for the year 2012. The closing of the transaction is expected in the course of July 2012.