The acquisition will help Eternis and Tennants Fine Chemicals complement each other’s offerings, as well as leverage aspects such as their multi-location manufacturing and distribution platforms
Mumbai-based aromatic compounds manufacturer, Eternis Fine Chemicals, has fully acquired the UK-based speciality chemicals company Tennants Fine Chemicals
.
Apart from the acquisition of Leek, Staffordshire-based Tennants Fine Chemicals, Eternis has also bought the company’s wholly-owned subsidiaries in Singapore and China from Tennants Consolidated.
The two companies did not disclose the financial details of the transaction. Lincoln International acted as the exclusive financial adviser on the deal, while DSK Legal (India) acted as the legal adviser to Eternis.
The acquisition will help Eternis and Tennants Fine Chemicals complement each other’s offerings, as well as leverage aspects such as their multi-location manufacturing and distribution platforms.
Rajen Mariwala, MD, Eternis said, “The addition of this large independent, high-end manufacturer enhances our business and brings with it many strategic advantages. We will now have established operations in Europe and Asia, with the ability to service our customers from stock hubs and partners.”
Billy Gittins, MD, Tennants Fine Chemicals said, “Our regional service strategy in China and SE Asia has proved beneficial and will be further strengthened with the addition of Eternis’ products.”