Deal Closed | Element Solutions, Inc.| Global acquisition of H.K. Wentworth Limited

The details of the deal are as under:

Sector: Speciality Chemicals 

Announcement Date: 05-May-2021 

Completion Date: 05-May-2021 

Name of Client: Element Solutions, Inc. 

Acquirer Details: Element Solutions Inc. | USA  

Element Solutions is a leading speciality chemicals company whose operating businesses formulate a broad range of solutions that enhance the performance of products people use every day. 

Target Details: H.K. Wentworth Limited (“HKW”) | United Kingdom  

HKW is a global specialist in formulated chemical solutions with a presence in over 55 countries and manufacturing facilities in the U.K., India and China. The business serves a range of end-markets including military and aerospace, medical, consumer electronics and automotive. 

Deal Description: The USD 60 million acquisition, funded from cash on hand, will see Element Solutions acquire HKW and grow the HKW business alongside its own electronics portfolio, to offer high-quality solutions that meet the requirements to protect electronics hardware in demanding applications. 

Total Consideration: USD 60 million 

Team Members: The core team consisted of Rabindra Jhunjhunwala (Partner), Stuti Galiya (Partner), Abhishek Rao (Associate) and Chintan Aashwini (Associate) with assistance from Subramanian Ramaswamy (Consultant) on corporate compliance-related aspects and Anshul Prakash (Partner), Deepak Kumar (Partner) and Prachi Vijay (Associate) with Employment Law aspects of the transaction. 

Role of Firm: We advised non-resident acquirer "Element Solutions Inc." in relation to the Indian law aspects of the global acquisition of H.K. Wentworth Group (HKW). The acquisition was across various jurisdictions, including the acquisition of the Indian Subsidiary "HK Wentworth (India) Private Limited. We assisted in relation to diligence, transaction documentation, and closing / post-closing action items relating to Indian Subsidiary. 

Other legal advisors if any with names of Lead Lawyers: Burges Salmon was the international lead counsel advising Element Solutions on the acquisition.