Brenntag (ISIN DE000A1DAHH0), the global market leader in chemical and ingredients distribution, has signed an agreement to acquire Comelt S.p.A. and its subsidiary Aquadepur S.R.L., both located in Northern Italy. The businesses focus on the processing, marketing, and distribution of activated and re-activated carbon for different applications such as water filtration and purification of air and flue gas. Warehouses and a laboratory in Northern Italy are included in the transaction.
, Member of the Management Board of Brenntag Group and CEO Brenntag Europe, Middle East and Africa and Asia Pacific: “With Comelt we have acquired a strong distributor and important market player in the segment of activated carbon. The company has an established customer base and broad access to the Italian markets, but also a steady connection to European and Asian suppliers. This combination of local and international relations is a perfect fit for Brenntag.”
Comelt is a full-service provider for activated carbon including the collection and reactivation of exhausted activated carbon. The company maintains warehouses and a laboratory in Northern Italy that are included in the transaction.
Anthony Gerace, Managing Director Mergers & Acquisitions at Brenntag Group: “We expect an increasing demand for activated carbon for years to come due to the stricter purity standards for air and water quality. The acquisition of Comelt will strengthen our ability to assist our customers with meeting their sustainability objectives. The company has a competitive advantage through its full service offering regarding activated and re-activated carbon. This is an opportunity for Brenntag to increase our market share in these important high growth and significant market segments in Italy as well as in other European countries.”
The acquired business generated sales of approximately EUR 31 million in the financial year 2019. Closing of the transaction is subject to certain contractual closing conditions and regulatory approvals and is expected to occur in Q4 2020.