Zenith Hygiene Group to acquire St Helens-based CCL Pentasol
Cleaning product manufacturer Zenith Hygiene Group is seeking to enter new markets after announcing a formal agreement to acquire chemicals firm CCL Pentasol (CCLP).
Zenith will fund its acquisition of the £8.3m-turnover firm through its balance sheet after securing a £13.9m funding package from Santander Corporate & Commercial earlier this year.
In addition to CCLP's core markets, the deal – to be completed for an undisclosed sum by the end of June – will see Zenith increase its footprint in the water treatment industry.
As part of the transaction, CCLP's managing director Alex MacDonald will join Zenith's board. Zenith CEO Ringo Francis said: 'We're delighted to be announcing this exclusive agreement to acquire CCL Pentasol today. The acquisition will open Zenith Hygiene to new markets, strengthening our position in the food and beverage industries, and provide significant growth opportunities for the business.'
Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.
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