Germany-based chemical distributor Brenntag AG has announced that it has agreed to acquire fellow German company Leis Polytechnik polymere Werkstoffe GmbH of Ramstein-Miesenbach, which specializes in the production and distribution of high-performance polymer compounds.
Brenntag did not reveal the financial details of the deal.
Karsten Beckmann, CEO of Brenntag Europe, Middle East and Africa said: “With the acquisition of Leis, Brenntag expands its portfolio in our engineering and high-performance polymers business. We expand specific know-how in the polymers business to compounding, which is a fast-growing business. By offering in-depth formulation know-how and value added services, we continue to build Brenntag as the product development partner.”
Leis currently delivers around 700 products for a wide range of applications in industries in Germany. Anthony Gerace, managing director of mergers & acquisitions at Brenntag Group, said: “The company [Leis] is an attractive investment for Brenntag, perfectly supplementing our market footprint and portfolio in the specialty polymers industry in Germany.”
Brenntag says that it expects the deal to be closed in the next few weeks and it estimates that Leis Polytechnik will generate sales of around 11.3 million euros ($12.2 million) in 2016.