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Elementis plc announced that it has agreed to purchase Watercryl Quimica Ltda, a Brazilian coatings additives company, for a cash consideration of US$24M. Watercryl was established in 1993 and is a leading supplier of additives to the Brazilian coatings industry, with manufacturing and technical facilities based in Palmital, São Paulo.
The acquisition of Watercryl will significantly increase the company’s presence in Latin America. For the 12 months ended May 31, Watercryl reported, on an unaudited basis, sales of US$9.3M and EBITDA of US$2.3M.