Gulf Oil acquires US specialty chemicals firm Houghton for $1.05 bn

07 Nov 2012

1

Gulf Oil Corp, part of the diversified UK-based Hinduja Group, yesterday acquired US-based specialty chemicals company Houghton International from investment firm AEA Investors LP, for $1.05 billion.

The acquisition of Houghton with its manufacturing plants around the world would be the largest-ever foreign acquisition by an Indian company this year, and comes shortly after Hyderabad-based Rain Commodities announced the takeover of German speciality firm Rutgers for $917 million.

London-based Hinduja Group is reported to have outbid private equity firms.

Gulf Oil, which sells lubricants and industrial explosives in India and ooverseas, said it plans to operate Houghton as a separate company.

Houghton's clients are from the aerospace, aluminum, automotive, bearing, defence, food and beverage, machinery fabrication, medical device, metal finishing, offshore, and steel industries.

With 2011 revenues of $467 million, Pennsylvania-based Houghton develops and produces specialty chemicals, oils, and lubricants.

Business History Videos

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more