Amber Chemicals sold by LSE-listed Caledonia
The chemicals team at Clearwater Corporate Finance has advised Caledonia Investments, the London Stock Exchange-listed investment trust company, on the sale of Amber Chemicals to ICM Products.
Amber Chemicals is a manufacturer of speciality silicones for a wide range of niche markets. The group’s product portfolio includes adhesives and sealants, anti-foams, coatings, emulsions, encapsulants, greases, lubricants, moulding rubber, release agents, silicone fluids and silicone foam.
The companies within the Amber Chemical group are ACC Silicones, Amber Silicones (Tianjin), Quantum Silicones, Siovation and Treco Srl.
Headquartered in Michigan, ICM Products is a manufacturer of silicone defoamers, emulsions and polymers for automotive, coatings, food processing, industrial and personal care applications. The company is backed by Century Park Capital Partners, a US private equity firm, which acquired ICM from its founder in January 2012.
Duncan Johnson, head of unquoted investments at Caledonia, says: “We were delighted to work with Clearwater, whose extensive chemicals sector knowledge and hands on approach were important to us identifying this strategic buyer and completing the sale.”
The Clearwater team consisted of partners Philip Nuttall and Constantine Biller and director Nick Horrocks.
Nuttall says: “The sale of the Amber Group to a strategic US purchaser is another example of ongoing consolidation in speciality chemicals. We are delighted to have found an owner whose ambitions are to accelerate the growth of the group whilst maintaining the identities of the individual companies.”
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