Banner bolts-on with distributor swoop
RUNCORN-based Banner Chemicals, the £100m turnover chemicals manufacturer and distributor, has snapped-up a smaller rival.
The privately-owned group has acquired KMZ Chemicals, which was based in Northampton, but is being integrated into the Banner business in this region.
KMZ is a distribution company offering a range of products to the polymers and coatings industries. Its products are complimentary to those offered by Banner’s specialty chemicals division, with little conflict or crossover, the group said.
Mottie Kessler, chairman and chief executive of Banner Chemicals commented “We confidently expect that both former KMZ and existing Samuel Banner customer and suppliers will benefit from the comprehensive product portfolio and expertise provided by the joining of the two companies.”
Mr Kessler, who also owns parent company 2M Holdings , added: “KMZ Chemicals joining Banner Chemicals is a fantastic example of a deal which was ‘win-win’ for all concerned. This is 2M Holdings’ moto for deal making.”
Law firm Squire Sanders advised Banner on the deal. The team was led by Leeds-based corporate partner Richard Hunt, assisted by Manchester-based corporate senior associate Graham Ball and trainee Jitesh Lad. Tax advice was provided by partner Peter Morley.
