German chemical and ingredients distribution company Brenntag has bought North American solvents distributor Matrix Chemical.
Matrix operates storage tanks at bulk terminals in Houston in Texas, Chicago in Illinois, Vanport in Pennsylvania and Wilmington in North Carolina. It distributes acetone and other solvents to customers in the US and Canada in industries including personal care, adhesives, and paint and coatings. Matrix has sales of US$200 million (€169 million) in 2021 so far.
‘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,’ says Steven Terwindt, Brenntag board member and COO of Brenntag Essentials.