Brenntag the global market leader in chemicals and ingredients distribution, has just announced the acquisition of Tech Management (dba), a leading solutions provider for proprietary formulations and on-site services directly to operators in the energy sector in the Permian Basin. This is the largest energy producing region in North America, fostering Brenntag’s resilience in this market against the background of shifts on the global energy market and will accelerate the creation of a dedicated energy service platform.
Steven Terwindt, Member of the Management Board of Brenntag Group and COO Brenntag Essentials: “I look forward to welcoming our new colleagues from Tech Management (dba) to the Brenntag family. The company’s formulation expertise and state of the art laboratory facilities are a welcome addition to Brenntag’s Energy Services business in North America, providing a further pillar to our resilient market offerings in the energy sector and filling a vital support role in a region critical to global energy security.”
Founded as Hughes Chemical in 2009, Globe Chemical, LLC d/b/a Tech Management has its headquarters and blending facility located in Odessa, TX, with ten additional operating facilities in West Texas, New Mexico and Oklahoma.
Scott Leibowitz, Regional President Brenntag Essentials highlights: “The acquisition represents a strategic opportunity to complement our leadership position in the US while helping our customers produce energy in an efficient and safe manner. Tech Management’s research and support colleagues will provide another center of excellence for innovation for Brenntag.”
The acquired business had sales of USD 85 million in the financial year 2021. Signing and closing of the transaction took place simultaneously.
About Brenntag:
Brenntag is the global market leader in chemicals and ingredients distribution. The company holds a central role in connecting customers and suppliers of the chemical industry. Headquartered in Essen, Germany, Brenntag has more than 17,000 employees worldwide and operates a network of about 700 sites in 78 countries. In 2021, Brenntag generated sales of around 14.4 billion EUR. The two global divisions, Brenntag Essentials and Brenntag Specialties, provide a full-line portfolio of industrial and specialty chemicals and ingredients as well as tailor-made application, marketing and supply chain solutions, technical and formulation support, comprehensive regulatory know-how, and digital solutions for a wide range of industries. In the field of sustainability, Brenntag pursues specific goals and is committed to sustainable solutions in its own sector and the industries served. Brenntag shares have been listed at the Frankfurt Stock Exchange since 2010, initially in the MDAX and since September 2021 in the DAX. In addition, the Brenntag SE shares are listed in the DAX 50 ESG and DAX ESG Target. For more information, visit www.brenntag.com.