Hinduja Group swoops for Houghton International
THE Mumbai-based Hinduja Group has acquired industrial fluids manufacturer Houghton International, which has its European headquarters in Trafford Park.
Hinduja used a UK-registered subsidiary of its Gulf Oil business to conduct the deal, valued at £625m.
US-based Houghton International, which specialises in metal working fluids, was sold by private equity house AEA Investors.
Gulf Oil International vice president Frank Rutten said: “This is an extremely exciting development and we are delighted to welcome Houghton International and its highly talented and committed staff to the global Gulf family.”
He added: “The Houghton brand, its products, and its global market leadership position in metal working fluids are all outstanding. Our aim is to leverage the capabilities of Houghton and Gulf to expand geographic coverage, grow sales and distribution networks, and strengthen our manufacturing footprint for improved service and support to our customer networks.”
Headquartered in Pennsylvania, Houghton has sales of around £530m from operations in more than 75 countries, supported by 12 manufacturing facilities – including Trafford Park – in 10 countries.
The Hinduja Group also owns Ashok Leyland which has a 75% stake in busmaker Optare, which moved its operations near Blackburn to a new site in Leeds last year.
