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TOT - The New Quaker Chemical Has Arrived: Digesting The Houghton Acquisition
Total S.A.
Introduction
It has been almost a year since I last discussed Quaker Chemical (KWR) and a lot has changed since, as the company has completed the acquisition of Houghton in a cash and share transaction. This deal has the potential to change Quaker’s scope overnight, but this comes with some balance sheet constraints as the company’s net debt has increased due to the deal.
Data by YCharts
The acquisition has now been completed
Although the transaction was announced in April 2017, it took Quaker a while to close the deal, and since Aug.