Dipsol acquisition strengthens Quaker Houghton portfolio
U.S.-based Quaker Houghton, the global leader in industrial process fluids, has announced its acquisition of Dipsol Chemicals Co., Ltd., a supplier of surface treatment and plating solutions. The transaction, valued at approximately JPY 23 billion (USD 153 million), is expected to close in the second quarter of 2025, pending regulatory approvals.
Headquartered in Japan and founded in 1953, Dipsol holds a strong market position in plating chemicals, especially within the Asia-Pacific region. The company operates globally, with production and R&D facilities across Asia, North America and Europe, and employs around 450 staff. Its trailing 12-month revenue as of 31 December 2024 stood at approximately USD 82 million, with an estimated adjusted EBITDA of USD 15 million—representing a purchase multiple of 10.5x.
Joseph Berquist, chief executive officer and president said, “The acquisition of Dipsol demonstrates our ability to use our strong financial position to make strategic investments that will accelerate growth and create shareholder value. Dipsol provides Quaker Houghton with leading product technologies that complement our technical service model and add capabilities and breadth to our differentiated portfolio of advanced solutions.”
The move strengthens Quaker Houghton’s position in the global surface treatment sector, particularly within automotive and industrial applications. “Dipsol is a market leader, highly innovative and has an established market position and strong customer focus, especially in the Asia-Pacific region. The acquisition will help expand our advanced solutions businesses in attractive end markets with solid growth characteristics and high barriers to entry. Dipsol provides significant cross-selling capabilities and enhances our ability to meet and exceed the needs of our customers across the globe.”
The acquisition is expected to be financed through borrowings under Quaker Houghton’s existing credit facility.
