Brenntag, the global market leader in chemical distribution, has acquired Petra Industries, located in Fairmont City, Illinois, USA. The company is providing specialized liquid and dry blending, packaging and terminal services to various chemical industry customers in the Mid-South region. The acquisition strengthens the mixing and blending business of Brenntag North America, particularly in liquid and dry Food grade blending, which is a focus area within the company’s growth strategy.
Markus Klähn, Member of the Board of Management of Brenntag Group and CEO Brenntag North America: “Petra has blended and packaged various products for Brenntag Mid-South for 15 years and we have experienced the company’s service excellence and expertise. Petra’s well invested sites, its facility and equipment resources as well as its trained people will strengthen our sales capabilities and support growing our customer service business in the Mid-South region.”
Anthony Gerace, Brenntag Group’s Managing Director Mergers & Acquisitions: “Petra serves an important role in the chemical supply chain and we are very fortunate to have the opportunity to acquire Petra and expand our value added service offering. We continue to seek ways to create value for our partners and this acquisition further demonstrates our commitment in that regard.”
The acquired business generated sales of 12 million USD in the financial year 2016. Gross profit 2016 amounted to 7 million USD with a normalized EBITDA of 2.5 million USD. The investment amounts to around 19.8 million USD.