Chemicals firm swallowed up by US group
A £5m turnover North West chemicals company has been snapped up by a New York Stock Exchange-listed group.
Family-owed, Widnes-based Hale Group has sold to Zep Inc of Atlanta for an undisclosed sum.
Hale Group’s two subsidiaries, Forward Chemicals and Rexodan International are highly regarded manufacturers and suppliers of liquid, powder and aerosol chemicals and solutions direct to industry and commercial laundries.
John Morgan, president and chief executive of Zep, which last year had sales of more than $640m, said: “This acquisition supports our strategy to expand our market access in Europe with an extended product offering and new distribution channels, enabling us to continue to offer our customers a growing portfolio of the products and services they need for their own success.”
“We are pleased to welcome Graham Hale, the founder of Hale Group, and his associates to the Zep Inc. family.”
Hale Group will become a part of Zep’s European Sales and Service channel, where Zep Inc supplies companies in Italy, France, Belgium, the Netherlands and Luxembourg since 1992.
The Hale family was advised by James Turner and Brian Ricketts of business advisory firm PKF. Jonathan Brown and Richard McKay of Hill Dickinson’s Liverpool office provided legal advice.
James Turner said: “This deal provides a great opportunity for both businesses by enabling the Hale Group business to build upon its existing strengths and reputation with the backing of the Zep Group”.
