Chemicals company Brenntag has acquired all operating assets and business of Matrix Chemical.
The company is a solvents distributor and the largest distributor of acetone in North America with sales of around $200 million (€168 million) a year.
Steven Terwindt, member of the management board of Brenntag and COO Brenntag Essentials, said: “With the acquisition of Matrix we create a highly reliable and competitive logistics network for acetone and solvents in North America that allows us to take advantage of market opportunities and to deliver a variety of core products to our customers more efficiently, economically and in a more sustainable manner.
“Overall, we expect significant operating synergies by leveraging Matrix’s supplier relationships, logistics network and bulk storage capacity in combination with Brenntag’s existing North American infrastructure and outbound logistics.”
Acetone and other solvents are used in various industries such as personal care, adhesives, and the paint and coatings industry.
Matrix operates storage tanks at bulk terminals in Houston, Texas, Chicago, Illinois, Vanport, Pennsylvania, and Wilmington, North Carolina.
Anthony Gerace, managing director mergers and acquisitions at Brenntag, added: “Matrix and its terminals in the US perfectly complement our existing network in the region.
“The acquisition is strategically aligned with our growth strategy in North America as it creates substantial additional acetone capacity in key geographic areas at advantaged barge economics. The combined network will improve our geographic coverage and operating efficiency and allow us to better serve our customer and supply partners alike.”
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