M&A

M&A

Specialty chemicals maker Dorf Ketal to acquire Khyati Chemicals

Mint  

Research-based specialty chemicals manufacturer Dorf Ketal is to acquire the business of Ahmedabad-based Khyati Chemicals in a deal that could be worth between INR 300-400 crore. The deal will help Dorf Ketal, with an annual revenue of INR 2,500 crore, to diversify its revenue stream and enter into the performance chemicals business where Khyati Chemicals has a strong presence. Khyati Chemicals is the second largest player in the optical brightening agents business and has customers such as Unilever, Ghadi and Trident India Papers. Once the deal is complete, Khyati will become a wholly-owned arm of Dorf Ketal. Singhi Advisors acted as the exclusive financial and strategic advisor to the transaction.