Dorf-Ketal Chemicals India Private Limited entered into a definitive agreement to acquire North American Land Oil business from Clariant AG for $14.5 million.

Dorf-Ketal Chemicals India Private Limited entered into a definitive agreement to acquire North American (NORAM) Land Oil business from Clariant AG (SWX:CLN) for $14.5 million on October 27, 2022. The business division generated sales of $113 million in 2021. The transaction announced today is subject to regulatory and other customary closing conditions and is expected to be finalized during the first quarter of 2023.

Ernst & Young Private Limited acted as financials adviser to Dorf Ketal on this transaction.