Consilia goes to Greece for second deal

CONSILIA Partners, the recently-launched North West-based turnaround and investment firm, has bought a Greek chemicals company.

Manchester-based Consilia, which announced its first deal last month and said it was hoping to raise a £100m fund, has acquired Neochimiki., an Athens based chemical distribution company.

Neochimiki distributes chemical raw materials and produces fertilisers and raw materials for paints and coatings.  Founded in 1974 it has operations in the Balkans as well as Greece.

It has a strong client base of more than 8,000 customers across a large variety of sectors, including the home, personal care, food, coatings, base oils and rubbers, construction, agriculture and automotive industries.

Consilia chairman Peter Smith said “We are delighted to have acquired this business and we look forward to working with the management team in deploying the Consilia value creation strategies. 

Neochimiki is an excellent business with a long history of successfully serving its customers and suppliers.”

Consilia director Frank Sekula, added: “The Greek market will continue to be challenging. However, Consilia has both the operational and financial expertise to help management navigate these challenging conditions.”