March 13 2017, David R Brown
Nexeo Solutions acquires Mexican specialty chemicals distributor, Ultra Chem
Nexeo Solutions, Inc. (NASDAQ:NXEO), a global leader in chemicals and plastics distribution, is to acquire the Mexican based specialty chemicals distributor, Ultra Chem, S. de R.L. de C.V. The acquisition represents a further expansion of Nexeo Solutions' presence in the specialty chemicals marketplace as well as extending the Group's reach into Mexico and Central America.
Acquiring Ultra Chem expands our overall specialty mix and extends our chemical reach into MexicoDavid Bradley
President and CEO
The acquisition is expected to close during the second quarter of 2017 and is subject to customary closing conditions and regulatory approvals.
“Acquiring Ultra Chem is aligned with our strategic objectives and accomplishes two goals. It expands our overall specialty mix and extends our chemical reach into Mexico,” said Nexeo Solutions' President and CEO, David Bradley. “Ultra Chem is a strong cultural fit with complementary end markets and current margins that are immediately accretive.”
“This agreement is an important step in Ultra Chem's history and represents an undeniable acknowledgment of our people's talent and of our company’s trajectory in the industry,” according to Ultra Chem's Board. They continued, ““We are very enthusiastic about the growth opportunities that this deal will create for our business in Mexico and in Latin America.”
Founded in 2000, Ultra Chem represents major global producers in Mexico and Latin America supplying a comprehensive range of speciality chemicals to customers in the food and beverage, personal and home care, coatings and adhesives, and plastics industries. The company has 5 offices in Mexico as well as branches in Guatemala and Costa Rica.
About Nexeo Solutions, Inc.
Nexeo Solutions is a leading global chemicals and plastics distributor, representing products from world-class producers to a diverse customer base. From product specification to sustainable solutions, the Company goes beyond traditional logistics to provide value-added services across many industries, including chemicals manufacturing, oil and gas, coatings, personal care, healthcare, automotive and 3D printing. The Company leverages a centralized technology platform to identify efficiencies and create solutions to unlock value for suppliers and customers.
Source(s): Nexeo Solutions Press Release