Tennants swoops for Tessenderlo
Tessenderlo Fine Chemicals, based in Leek, has been bought by Tennants Consolidated for £17m. Manchester-based Tennants taken over the company from its Belgian parent Tessenderlo Group.
Tessenderlo is a global supplier of liquid chemicals for use by manufacturers. In its last reported accounts for the year to 31 December 2009, the business posted sales of £36.4m and a profit before tax of £1.6m.
Paul Alexander, group chairman of Tennants, said Tessenderlo Fine Chemicals was an “excellent fit” with its existing operations.
Clearwater Corporate Finance’s chemicals sector team in Manchester, comprising Philip Nuttall and Constantine Biller, advised Tennants on the deal.
Biller, said: “The chemicals sector is a vital part of UK exports and has a substantial role in future economic growth.
“The acquisition of Tessenderlo indicates the ambition of Tennants to bolster its global manufacturing footprint and establish itself as a leading player in the fine chemicals sector.”
