North Yorkshire chemical specialist, Airedale Group, has acquired McCann Chemicals as part of its strategy for growth and diversification.
The acquisition includes subsidiary companies Hunter Chemicals and McCann Food and Nutrition and is the company’s third acquisition since 2015.
McCann’s portfolio of organic and inorganic chemicals will complement Airedale Group’s existing offering from its five divisions – Functional, Innovation, Food and Beverage, Metal Surface Treatment, Life Science and Surfactants – and support the Group’s plans to strengthen its market position.
Chris Chadwick, Managing Director of Airedale Group, said: “McCann Chemicals holds similar values to us and their focus on excellent customer service reflects our own ethos. They have built a strong reputation for quality products which complements our portfolio perfectly and a history of sourcing commodity and specialty products from suppliers all over the world.
“This is a fantastic way to celebrate our 50th anniversary and we’re excited that McCann Chemicals will be joining Airedale Group as we continue our journey to grow, diversify and cement our position as a leading force in the UK chemical industry.”
Both businesses will continue to operate independently under the Airedale Group brand and service for all their customers will continue without disruption.
McCann Chemicals Managing Director, Les Horrobin, adds: “This development will provide a great platform for continued organic growth for both companies, introducing access to new assets, infrastructure and capabilities and we’re excited to be part of Airedale Group’s ambitious plans for the future.”
Translink Corporate Finance, the specialist corporate finance division of BHP LLP acted as lead advisor on the transaction (Andy Haigh and Declan Savage) as well as providing due diligence (Martin Athey and Charlotte Ellerby) and tax advisory (Fletcher Adamowicz and Emily Caine) services to Airedale Group.
Andy Haigh, partner at Translink Corporate Finance, said: “It’s been a pleasure to work with Airedale Group on the acquisition of McCann Chemicals. The growth plan which Airedale Group’s management team has for the business is bold and McCann Chemicals fits neatly into this strategy.”
A team from Gordons solicitors, led by Duncan Firman and Andrew Moore, also advised Airedale Group on the transaction.
McCann Chemicals was advised by Cameron Varley and Sam Oldfield of Camlee Group.