Quaker Houghton to acquire Dipsol Chemicals for ~$153M

Quaker Houghton (KWR) announced that it has entered into a purchase agreement to acquire Dipsol Chemicals Co., a supplier of surface treatment and plating solutions and services primarily for the automotive and other industrial applications, for ~$153M, subject to post-closing adjustments. Dipsol is headquartered in Japan and operates globally with revenues of approximately $82M over the twelve-month period ending December 31, 2024. The purchase price represents a multiple of approximately 10.5x Dipsol’s trailing twelve month estimated adjusted EBITDA of approximately $15M. The transaction is expected to close in the second quarter of 2025 and is subject to applicable regulatory approvals and certain other customary conditions. Quaker Houghton expects to fund the purchase price for this acquisition with borrowings under its existing credit facility.