Quaker Houghton Acquires Dipsol Chemicals, Strengthening Advanced Solutions Portfolio

Quaker Houghton, a leading global industrial process fluids company, has entered into a purchase agreement to acquire Dipsol Chemicals (Dipsol), a leading provider of surface treatment and plating solutions and services for automotive and other industrial applications, for 23 billion yen (approximately $153 million at current exchange rates), subject to post-transaction adjustments.

Dipsol, headquartered in Japan with operations around the world, had revenues of approximately $82 million for the twelve months ended December 31, 2024. The purchase price represents approximately 10.5 times Dipsol’s trailing twelve month pro forma Adjusted EBITDA of approximately $15 million.
"The acquisition of Dipsol demonstrates our ability to leverage our strong financial position to make strategic investments that accelerate growth and create shareholder value," said Joseph Berquist, CEO and President. "Dipsol provides Quaker Houghton with leading product technologies that complement our technical services model and enhance the capabilities and breadth of our differentiated advanced solutions portfolio."

Dipsol was founded in 1953 and is headquartered in Japan. The company has a strong product and service portfolio and a leading position in the Japanese electroplating chemicals market. Dipsol has approximately 450 employees worldwide and operates globally with manufacturing and R&D facilities in Asia, North America and Europe.

Berquist continued, "Dipsol is a market leader and highly innovative with solid market positions and a strong customer focus, particularly in the Asia Pacific region. This acquisition will help us expand our Advanced Solutions business in attractive end markets with solid growth characteristics and high barriers to entry. Dipsol provides strong cross-selling capabilities and enhances our ability to meet and exceed customer needs around the world."

The transaction is expected to close in the second quarter of 2025, subject to receipt of relevant regulatory approvals and certain other customary conditions. Quaker Houghton expects to finance the purchase price of the acquisition using borrowings under its existing credit facilities.