LDC backed the original management buyout of British Salt in 2007, acquiring the business from its US parent company.
LDC director Carl Wormald said this is an optimum outcome for all parties. The acquisition represents a highly strategic move by Brunner Mond, providing an important presence in several growth markets across Europe.
"It also provides an excellent opportunity for British Salt’s customers and employees, becoming part of a leading European manufacturing group and ultimately one of the world’s largest and most geographically diversified chemical groups with a worldwide reputation for innovation, quality of customer service and commitment to sustainability," Wormald said.
The transaction remains subject to regulatory approval, which is expected in January.
Paul Lupton, partner at Deloitte, and Neil Shepherd, partner at DLA, advised the shareholders. Ken Williamson, partner at Ernst & Young, and Michael Birchall, partner at Addleshaw Goddard, advised Brunner Mond.
