Warwick sells £66m distribution arm
Warwick International is set to sell its speciality chemical distribution companies to IMCD BV, headquartered in Rotterdam. Warwick, based in Mostyn, Flintshire, chose to sell after concluding the companies would benefit from being part of a larger company dedicated to speciality chemical distribution.
The disposal is due to complete on 31 August and includes businesses with combined revenues of about approximately £66m. The businesses included in the deal are Warwick France, Warwick Italy, Warwick Spain, Warwick Portugal, Warwick Technologies (Slovenia) and GME Chemicals (Malaysia).
Warwick chief executive Peter Bradley said: “The fit of the businesses with IMCD is very strong and we are confident this will be a very successful acquisition for them.
“This transaction will allow Warwick to focus on the further development of its highly successful manufacturing business, which is a leading provider of bleach activation systems to the global fabric and home care markets.”
Deloitte and DLA Piper advised Warwick on the transaction.
