Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Elementis Buys Watercryl for $24 Million to Expand in Brazil

June 26 (Bloomberg) -- Elementis Plc, the specialty chemical maker born out of British tea-trader Harrisons & Crosfield, agreed to acquire Watercryl Quimica Ltda. of Brazil for $24 million to expand in the Latin American market for coatings additives.

Watercryl generated sales of $9.3 million and earnings before interest, taxes, depreciation and amortization of $2.3 million in the year through May, and the deal is expected to close in the second half, the London-based company said in a release today. Elementis shares climbed 2.7 percent to 193 pence as of 8:49 a.m. local time.

Elementis will combine Watercryl with its existing Specialty Products offering to accelerate growth in Latin America. The company is seeking out other investment opportunities to pursue expansion in high-growth markets, Chief Executive Officer David Dutro said in the release.

“This acquisition represents significant progress in extending our reach into the fast growing and increasingly sophisticated Latin America coatings market,” Dutro said.

The purchase price implies a multiple of 10.4 times Ebitda, compared with a median ratio of 7.19 for specialty chemical deals in western Europe over the past six years, according to data compiled by Bloomberg.

To contact the reporter on this story: Andrew Noel in London at

To contact the editor responsible for this story: Benedikt Kammel at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.