TAGS: Sustainability / Natural Coatings
Brenntag, a chemicals and ingredients distributor, announces the agreement to acquire Solventis Group, a glycols and solvents distribution company operating from Antwerp, Belgium and from the UK.
Sustainable Distributing Strategy
The acquisition, especially with its strategically positioned Antwerp site, also improves Brenntag Essentials’ sustainability profile with increased sourcing via ships and barges, as well as expanded supply and delivery options through rail transport. In addition, Solventis’ proficiency in glycol recovery and recycling further enhances Brenntag’s sustainability profile.
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Brenntag Essentials combines a cost-efficient network of last mile service operations with regional sourcing and supply chain services and global sourcing,” said Ewout van Jarwaarde, chief executive officer, Brenntag Essentials.
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Solventis Group is a highly compatible fit to our strategy, adding tollgate capabilities and volume optionality via their Antwerp state-of-the-art site to our regional capacities, while opening interregional optimization potential. The acquisition will support our integration with increasingly global supply markets while strengthening our regional market position and customer proximity in EMEA,” added Jarwaarde.
In 2022, Solventis Group reported annual sales of over 300 million EUR. Specializing in the distribution of glycols and solvents, Solventis Group provides tailored solutions to a diverse global customer base. Alongside a site in Scunthorpe, UK, the company operates a purpose-built facility in the port of Antwerp, Belgium, a major European chemicals hub, engaging in advanced blending, storage, packing, distribution and chemical recycling.
Expanding Customer Network Globally
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Our global network of suppliers and customers stands to gain significant advantages from Brenntag’s extensive global reach and diverse product and service portfolio,” said David Lubbock, owner and chief executive officer of the Solventis Group.
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We eagerly look forward to becoming part of the expanding Brenntag Essentials platform, offering our extensive product range encompassing glycols, solvents and automotive products, including coolants, antifreeze, brake fluids and de-icing fluids, to a broader customer base worldwide,” added Lubbock.
Financial details of the deal are not being disclosed. Closing of the transaction is subject to customary conditions including regulatory approvals and is expected in Q2 of 2024.
Source: Brenntag