Quaker Houghton (NYSE: KWR), the global leader in industrial process fluids, announced today that it has entered into a purchase agreement to acquire Dipsol Chemicals Co., Ltd., a leading supplier of surface treatment and plating solutions and services primarily for the automotive and other industrial applications, for 23 billion JPY (~$153 million at current rates), subject to post-closing adjustments. Dipsol is headquartered in Japan and operates globally with revenues of approximately $82 million 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 $15 million.
Joseph Berquist, Chief Executive Officer and President said, “The acquisition of Dipsol demonstrates our ability to use our strong financial position to make strategic investments that will accelerate growth and create shareholder value. Dipsol provides Quaker Houghton with leading product technologies that complement our technical service model and add capabilities and breadth to our differentiated portfolio of advanced solutions.”
Dipsol was established in 1953 and is headquartered in Japan. The company has a strong portfolio of products and services and a leading position in the Japanese market for plating chemicals. Dipsol has approximately 450 employees worldwide, and a global presence with production and R&D facilities in Asia, North America, and Europe.
Mr. Berquist continued “Dipsol is a market leader, highly innovative and has an established market position and strong customer focus, especially in the Asia-Pacific region. The acquisition will help expand our advanced solutions businesses in attractive end markets with solid growth characteristics and high barriers to entry. Dipsol provides significant cross-selling capabilities and enhances our ability to meet and exceed the needs of our customers across the globe.”
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.
About Quaker Houghton
Quaker Houghton is the global leader in industrial process fluids. With a presence around the world, including operations in over 25 countries, our customers include thousands of the world’s most advanced and specialized steel, aluminum, automotive, aerospace, offshore, container, mining, and metalworking companies. Our high-performing, innovative and sustainable solutions are backed by best-in-class technology, deep process knowledge and customized services. With approximately 4,400 employees, including chemists, engineers and industry experts, we partner with our customers to improve their operations so they can run even more efficiently, even more effectively, whatever comes next. Quaker Houghton is headquartered in Conshohocken, Pennsylvania, located near Philadelphia in the United States. Visit quakerhoughton.com to learn more.
