Thursday, June 17, 2021

Leicestershire electro-chemicals manufacturer acquired in $60m deal

H.K. Wentworth Limited (HKW), a Leicestershire-based manufacturer of electro-chemicals for the electronics, LED, automotive and industrial manufacturing industries, has been acquired for approximately $60 million.

The business has been sold to Element Solutions Inc, a NYSE-listed global and diversified speciality chemicals company based in Miami, US.

Alantra, the global mid-market investment banking firm, advised the shareholders of HKW in the deal.

Headquartered in Ashby-de-la-Zouch, HKW is a global specialist in formulated chemical products for the electronics industry, offering an array of products, including thermal management materials, conformal coatings, encapsulation resins, electronic cleaning solutions and general maintenance products with a presence in over 55 countries.

The business has manufacturing facilities in the UK, India and China and its products serve customers globally across a diverse set of end-markets, including consumer electronics, telecommunications, medical, automotive, military and aerospace. HKW generated sales of approximately $44 million in 2020.

Ron Jakeman, CEO of H.K. Wentworth, said: “We now have a partner in Element Solutions that will provide global support to help us accelerate our plans. They are the perfect strategic fit and we are excited about the growth opportunities that this partnership will bring to both organisations.”

HKW’s shareholders were advised by Richard Sanders, Richard Benyahia and Mike Falzon based in Alantra’s Birmingham Office, and Ollie Hickley based in Alantra’s London office.

Richard Sanders, Partner at Alantra, who advised on the sale of H.K. Wentworth, said: “We are delighted to have played an instrumental role in helping H.K. Wentworth find a partner that brings a powerful combination of experience and investment to support its ambitious expansion plans.

“The deal brings together two global businesses and as such, underlines Alantra’s ability to combine sector expertise, global relationships and local deal execution to meet the increasingly international needs of our clients.”

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