Element Solutions, Inc. Acquires of H.K. Wentworth Group
Element Solutions, Inc. has acquired H.K. Wentworth Limited (HKW), a UK-based manufacturer of electro-chemicals for the electronics, LED, automotive and industrial manufacturing industries for approximately $60 million, funded from cash on hand. HKW is a global specialist in formulated chemical solutions offering an array of products, including thermal management materials, conformal coatings, encapsulation resins, electronic cleaning solutions and general maintenance products with a presence in over 55 countries.
The business has manufacturing facilities in the U.K., India and China and its products serve customers globally across a diverse set of end-markets, including consumer electronics, telecommunications, medical, automotive, military and aerospace. HKW generated sales of approximately $44 million in 2020.
President and Chief Executive Officer Benjamin Gliklich said, “We are pleased to announce our acquisition of HKW, a business with great technology, history and promise. Their Electrolube product line is a direct and attractive adjacency to our electronics portfolio offering high-quality solutions that meet the increasingly important and rigorous requirements to protect electronics hardware in demanding applications. We believe their conformal coatings, thermal interface materials and other encapsulation products are purpose-built for the needs of next generation mobile and automotive electronics. Our global scale and relevant customer intimacy should allow us to grow this business substantially in the near-term. I am thrilled to welcome the HKW team to the Element Solutions family.”