Airedale Group acquired by Brenntag

Transaction

Sell-side

Undisclosed

Role

Adviser to Airedale Group on its sale to Brenntag

Sector

Industrial & Chemicals

Region

United Kingdom

We have advised Airedale Group, an award-winning UK distributor of essential chemicals and added-value service provider, on its sale to Brenntag, a global market leader in chemicals and ingredients distribution. Our combined team provided M&A and Modelling and Data Analytics support.

Founded in 1973, Airedale has grown from a small dye trader into a diversified chemical distributor through steady expansion and product diversification. The company has invested in new technologies and capabilities as well as expanding operations through strategic acquisitions across sectors including food and beverage and metal surface treatment. The Airedale Group had an annual revenue in 2024 of £81m (c.€93m).

Brenntag holds a central role in connecting customers and suppliers of the chemical industry. Headquartered in Essen, Germany, Brenntag has more than 18,100 employees worldwide and operates a network of around 600 sites in more than 70 countries.

The planned acquisition brings valuable expertise as well as significant blending and formulation capabilities to Brenntag’s network in the UK. It also enhances the breadth of products, services and capabilities available to customers, supported by a regional supply chain infrastructure and global reach. We anticipate that, following completion, combined customers, across industries, will benefit from an even more comprehensive and reliable experience as well as a broader product portfolio.

Closing of the transaction is subject to customary conditions, including certain third-party approvals, and is expected in the first quarter of 2026.

More about the process

Our M&A team supported Airedale’s sale by preparing marketing materials and detailed due diligence. The team highlighted Airedale’s market-leading position, strong profitability, and evolution into speciality chemicals. Through a dual-track process engaging private equity and trade buyers, we enabled shareholders to choose Brenntag as the ideal growth partner, maximizing value and positioning Airedale as a scalable UK platform with significant synergy opportunities.

An integrated financial model and Power BI datacube were developed by our Modelling and Data Analytics team to support the transaction. These tools were instrumental in reinforcing the business plan and key selling messages, underpinning confidence in the forecasts and KPIs, and proving invaluable during diligence and throughout buyer interactions.

I could not have asked for any more from Clearwater, who have been by our side for a number of years as we contemplated the optimal strategic options for growth. They have always been committed to delivering the right result for shareholders and our wider management team. They understand our business, the industry and the drivers that have made us successful. Perhaps most importantly, they have been brilliant to work with, which is key as you navigate through a transaction such as this.

Our plans for expansion and diversification have always been ambitious, and, through several generations, we have built a strong supplier and customer base. With this step, we will be joining a truly global player in chemical distribution, unlocking synergies for growth that we can now capitalise on. I am very excited to join Brenntag in what will be a new chapter for our team, customers, and supply partners.
Chris Chadwick, Executive Chairman, Airedale Group

The team at Airedale has built an exceptional business and we are pleased to welcome them to Brenntag. Together, following completion, we will build on their strong customer and supply partner relationships, and expand the value-added services that set them apart.
Russel Argo, President, Brenntag Essentials EMEA

It has been a privilege to advise on this landmark transaction in the UK chemicals sector. Airedale represents a great success story for so many people, most notably Chris Chadwick and his excellent management team. This transaction provides the natural next step for the business and one that will unlock significant benefits for customers, supply partners and employees alike. We wish the combined business every success for the future.
Michael Loudon, Head of Industrials and Partner, Clearwater

Airedale is a business that we have worked with for some time, where we have built relationships that will endure long beyond this transaction. It makes it all the more satisfying to help deliver this milestone for Chris and his team, who have built a business that truly understands its customers’ needs. This transaction brings together complementary expertise and resources, creating opportunities for enhanced service delivery and innovation.
Jeremy Thomas, Director, Clearwater