Market leading provider of formulated chemical process aids and foam control, PennWhite has been acquired by Manali Petrochemicals, part of the AM International Holdings group.

Penn Globe Limited is a global market leader in formulated chemical process aids, and a specialist in industrial, wastewater treatment, and food industry foam control. Trading as PennWhite, the business offers a portfolio of high-performance products for a wide range of applications to customers in over 35 countries.

Manali Petrochemicals Limited (MPL) is a leading petrochemical manufacturer based in Chennai, India. It markets propylene glycol and polyols and is part of the Singapore-headquartered AM International Holdings (AMIH) group. 

Matt Dixon, Roger Green, John Marcantonio, and others from CCD Partners performed a tailored acquisition search and advised MPL and AMIH on the acquisition.

John Whitehead, Managing Director, Penn Globe Ltd, commented:

“We are delighted to be a part of Manali Petrochemicals and AM International, Singapore. This will enable us to expand and strengthen our footprints in Asia and grow our portfolio to cater to a globally diversified customer base.”

Ashwin Muthiah, Founder and Chairman, AM International, commented:

“The addition of Penn Globe Limited is an important step in the execution of our growth strategy. It gives us access to world-class products, technology, and a talented team as a strategic advantage. It is in line with our inorganic expansion vision that fosters a global focus, customer-first mindset, and culture of innovation. It will help the Company increase its share in the high-demand premium customer segments that command better pricing opportunities. At MPL, we are committed to investing in future-ready technologies and innovation driven solutions.” 

Hugo Chardon, Head of Strategy EEA, AM International, commented:

“CCD Partners has been a great partner to have by our side during the acquisition process. They have shown pro-activity, flexibility and great knowledge about the industry. I would personally recommend CCD Partners and would be happy to work with Matt and his team again in the future.”