Aroma therapy as Manchester based advisor sells Dutch chemicals company


Clearwater Corporate Finance advised on the £6 million (€6.75m) sale of Netherlands-based PFW Aroma Chemicals BV to Keva UK Limited a SPV set up by Kedar Vaze, an Indian entrepreneur.

PFW specialises in aroma chemicals for the flavour and fragrance industry. It has a long and proud history and is a highly recognisable brand within that industry. Its main product is Tonalid®, a musk aroma chemical used in cleaning products and toiletries. The company is a subsidiary of UK listed chemicals group Yule Catto & Co plc, which has operations around the world.

Clearwater identified a number of potential buyers and arranged a competitive tender process on behalf of Yule Catto.

Philip Nuttall, partner with Clearwater said: “Whilst we have a strong record in selling UK assets to overseas buyers, the sale of PFW represents our first sale on mainland Europe, demonstrating our global ability. We are now working on our second transaction on mainland Europe and are anticipating more mandates from mainland Europe in the coming year.”