Warwick International is pleased to announce the sale of its chemical distribution division to IMCD Group BV.
The businesses included in the transaction are Warwick France, Warwick Italy, Warwick Spain, Warwick Portugal, Warwick Technology (Slovenia) and GME Chemicals (Malaysia). They have combined sales revenue of approximately €80 million.
The Warwick distribution division sells a broad range of speciality chemicals, primarily into the industrial market. The division operates completely independently of the core Warwick manufacturing business, which is based in Mostyn, North Wales and which supplies biodegradable bleach activator chemicals into the detergent and personal care markets.
The sale of the distribution division was always part of the Warwick management team’s strategy, enabling them to concentrate on the creation of a more focused manufacturing business.
Since the buyout 2 years ago from Sequa Corporation, there have been significant changes within the business, which together with market changes, has resulted in solid earnings growth.
The underlying trends within the detergent and personal care market underpin management’s plans to further develop the business and its manufacturing facility. These opportunities provide Warwick with good growth potential and an exciting future.