IBU-tec - Transformative acquisition

IBU-tec has completed the acquisition of speciality chemicals company BNT Chemicals in a transformative deal that substantially expands the type of chemical treatments deployed, the markets served and the customer-base. Management estimates this will more than double annualised revenues and be immediately earnings enhancing with the potential to substantially improve BNT’s profitability in the medium term. The terms of the transaction were not disclosed. The consideration was payable in cash using some of the funds from the IPO and bank loans.