January 14 2022, David R Brown
US-based private equity firm Lone Star Funds has acquired chemical distributor Manuchar
Leading Belgian distributor of chemicals and other raw materials in emerging markets, Manuchar has announced a change in ownership structure ensuring future growth. After successful development under the ownership of the founding Maas family, Ackermans & van Haaren and management, Manuchar welcomes an affiliate of Lone Star Funds ("Lone Star") as its new majority shareholder (c. 80%) with management retaining a minority interest (c. 20%).
We are excited to partner with Manuchar and its management team as they pursue the many opportunities ahead
Donald Quintin, President
Lone Star Opportunity Funds
Manuchar has evolved from a logistics and trade services group to a leading integrated, chemicals distributor operating across Latin America, Africa, the Middle East and Asia. Manuchar's chemical distribution business serves various industries, including homecare, personal care, food and feed, agriculture, mining, oil and gas, glass, textiles, paper, and water treatment.
Lone Star intends to provide the support and the capital structure to enable Manuchar to take a leading role in the consolidation of the chemical distribution landscape in emerging markets. Manuchar will leverage its strong distribution platform and leading market positions in the Home Care industry to further expand its product offering in Agriculture, Food & Feed, Personal Care and other end-markets. Its complementary international trade activities in steel, polymers and other commodities will continue to create synergies with its chemical distribution business.
Manuchar's remarkable growth journey over the past years was enabled by a solid partnership between the Maas family, Ackermans & van Haaren and management. They joined forces to pursue Manuchar's expansion across geographies and end-markets through targeted investments in organizational capabilities, local teams and distribution assets.
Phillippe Huybrechs, CEO Manuchar said, “We are thankful to the Maas family and Ackermans & van Haaren for the success story we wrote together. Over the years, we have proven to stand out as the partner of choice in emerging markets and have strengthened our prominent role in chemical distribution. We are excited to further build on this success together with Lone Starg”.
Donald Quintin, President, Lone Star Opportunity Funds added, “This is a company that has earned its opportunities to expand its reach and customer base. We are excited to partner with Manuchar and its management team as they pursue the many opportunities ahead.”
The value of the transaction was not disclosed, and the deal is expected to be completed in the second quarter of 2022, pending antitrust approval.
About Manuchar
Manuchar is a leading distributor of chemicals in emerging markets, headquartered in Antwerp. It complements its Chemical Distribution business with International Trade Services in steel, polymers and several other raw materials. It handles over 5 million metric tons of goods, generating USD 2.5 billion (chemical distribution ~50% of total revenues) in sales with local operations in over 35 countries and 125 locations. Manuchar is recognized throughout emerging markets as an exceptionally reliable partner, employing 2,250 highly professional employees worldwide.
Source(s): Manuchar Press Release
Further Information
Visit: https://www.manuchar.com