CBPE acquires global speciality water chemical business from Chemtura Corporation for $85m
Close Brothers Private Equity (CBPE) announced the acquisition of the industrial water chemicals business from Chemtura Corporation for an acquisition price of $85m. The business will be renamed BWA Water Additives (BWA).
BWA is a global supplier of niche speciality chemicals used in a wide range of industrial water treatment applications including the fast growing desalination sector. BWA's chemical treatments are used by customers on sites ranging from oil refineries and breweries to air conditioning in office buildings. The business, established in 1973 is headquartered in Trafford Park, Manchester with offices in Atlanta, USA, Japan, Singapore and Dubai. It has revenues of c.$80m and has approximately 40 employees.
As part of the deal, CBPE has acquired the sales, marketing, technology and supply chain assets from Chemtura. The transaction does not include the manufacturing operations or facilities which will continue to operated by Chemtura.
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