Conshohocken-based Quaker Houghton, a industrial process fluids company, recently entered into an agreement to purchase Japan-based Dipsol Chemicals Co., a surface treatment and plating solutions and services supplier, for approximately $153 million.
The purchase helps Quaker Houghton expand its advanced solutions businesses, allowing it to
meet customers’ needs, and provides significant cross-selling capabilities.
“The acquisition of Dipsol demonstrates our ability to use our strong financial position to make strategic investments that will accelerate growth and create shareholder value,” Joseph Berquist, Quaker Houghton president and CEO, said. “Dipsol provides Quaker Houghton with leading product technologies that complement our technical service model and add capabilities and breadth to our differentiated portfolio of advanced solutions.”
The deal is expected to close during the second quarter and is subject to certain customary conditions and regulatory approvals.
Dipsol employs approximately 450 employees worldwide and has production and research and development facilities in Asia, North America, and Europe. It primarily serves the automotive market and other industrial applications. Last year, it had revenue totaling approximately $82 million.
Quaker Houghton employs approximately 4,400 people and operates in more than 25 countries.
Its customers include advanced and specialized steel, aluminum, automotive, aerospace, offshore, container, mining, and metalworking companies.