Diamond deal sees billion-dollar US firm acquire dye company
A £7BN turnover US corporation has acquired Sheffield dye and pigment manufacturer Diamond Dispersions.
The deal, for an undisclosed amount, will see Diamon add to Lubrizol’s performance coatings division.
Diamond Dispersions focuses on the production of water-based dye and pigment dispersions for inks used in digital printing and the acquisition will enable the the chemicals giant to enable it to grow its digital printing products offering.
Sanjay Kalhan, general manager of Lubrizol Performance Coatings, “The combined technologies, knowledge and expertise of both companies will drive further innovation across product lines and position Lubrizol as the preferred partner for ink makers seeking to develop new digital print systems for this growing market. In addition to our dispersant, specialty additive and resin product lines, ink manufacturers will now have the opportunity to source fully formulated dispersions through Lubrizol.”
Diamond Dispersions is a continuation of Diamond Sheffield which had been operating since 2003 before undergoing a management buyout by the executive directors Peter Callahan and Sue Wright in 2007.
Last available accounts from 2012 showed the company turns over £1.2m a year, but Diamond Dispersions said since then it had more than doubled turnover.
It was shortlisted as in TheBusinessDesk.com’s Yorkshire Business Master Awards in 2013 and 2015 as Exporter of the Year.
Lubrizol employs 9,000 people across its operations, which are organised from head office in Ohio, US.
Matt Ainsworth, corporate partner at Irwin Mitchell in Sheffield led a team including Julia Caiger and Katherine Munn which provided legal advice to the for the shareholders of Diamond Dispersions.
Andy Ryder , corporate finance partner at Shorts, provided lead advisory advice to the shareholders with support from a team including Matt Milnes and Dave Robinson.
