By: ICN Bureau
Last updated : August 18, 2025 10:17 am
Polytec was founded over 30 years ago and provides turnkey water treatment solutions to a diverse customer base, primarily in the food-processing industry
Chemtrade Logistics Income Fund (Chemtrade) has entered into an agreement to acquire Polytec, Inc. (Polytec), a southeastern United States-based provider of turnkey water treatment solutions, for US$150 million.
The transaction represents a multiple of approximately 6.5x LTM Adjusted EBITDA. Chemtrade will finance the acquisition by drawing on its credit facility and anticipates it will close during the fourth quarter of 2025, subject to regulatory approvals and customary closing conditions. Following the transaction, Chemtrade expects to maintain ample liquidity and leverage.
Polytec was founded over 30 years ago and provides turnkey water treatment solutions to a diverse customer base, primarily in the food-processing industry but also in the municipal market.
The purchase of Polytec will add a unique solutions platform to Chemtrade’s line of water treatment chemicals products. Chemtrade’s North American-wide footprint and internal business systems will be used to leverage Polytec’s business, with opportunities for cross-selling in the U.S. and Canada as well as more efficient management of overall business systems.
“This transaction will enable Chemtrade to expand its footprint in water solutions for the food-processing industry and municipal markets while also adding to our range of products,” said Scott Rook, President and CEO of Chemtrade. “Polytec’s founder Jack Harmon has built a company with the reputation of providing the best quality service and products. It is an excellent addition to Chemtrade’s capabilities, broad spectrum of customers, logistics network, and technical expertise. Furthermore, the acquisition of Polytec is well-aligned with our strategy of growing the water business and represents an important step towards delivering on the growth pillars of Chemtrade’s Vision 2030.”
Commenting on the acquisition, Chemtrade’s CFO, Rohit Bhardwaj, said “Our successful leverage reduction strategy has provided Chemtrade with the financial flexibility to pursue compelling growth opportunities such as the acquisition of Polytec while continuing to maintain a conservative balance sheet and leverage within our target range without diluting our unitholders. Our capital deployment decisions remain grounded in financial discipline and are aligned with our goal of driving sustainable earnings growth and attractive total unitholder returns.”