Pennsylvania-based Quaker Chemical Corporation combined with Houghton International in a deal valued at $1.6 billion. Our firm represented Quaker Chemical in the transaction, which consisted of approximately $170.8 million in cash, the issuance of approximately 4.3 million shares of Quaker common stock to the selling shareholders (including Indian conglomerate Hinduja Group and other former owners of Houghton International) and the refinancing of approximately $660 million of Houghton’s net indebtedness.
After securing regulatory approvals from the European Commission and the FTC, Houghton sold its product lines in Europe and North America to French multinational oil company, Total S.A., for $50 million.
The combination of the two organizations created Quaker Houghton (NYSE: KWR), a global leader in industrial process fluids to the primary metals and metalworking markets.
Quaker Houghton employs 4,000 associates and serves 15,000 customers worldwide. The company’s product and service offerings can be found in end-markets such as aerospace, aluminum, automotive, machinery, can manufacturing, industrial parts manufacturing, mining, offshore, steel, and tube and pipe industries.