Company Website: http://www.chemtradelogistics.com
TORONTO -- (Business Wire)

Chemtrade Logistics Income Fund (TSX: CHE.UN) (“Chemtrade” or the “Fund”) today announced that it has completed the previously announced acquisition of Polytec, Inc. (“Polytec”), a southeastern United States-based provider of turnkey water treatment solutions, for US$150 million. Chemtrade financed the transaction by drawing on its credit facility.

The acquisition provides Chemtrade with a unique solutions platform that can be leveraged across its North American-wide footprint for cross-selling and growth opportunities into municipal and food-processing markets. Polytec’s founder has committed to staying actively involved in the business in the months following completion of the transaction to ensure a smooth transition for employees and customers.

In addition to expanding Chemtrade’s well-established water treatment chemicals platform with service capabilities, products, and end markets, the acquisition of Polytec also supports execution towards advancing Chemtrade’s Vision 2030 growth targets.

“We are pleased to welcome Polytec’s employees and customers to Chemtrade. This acquisition represents a significant growth opportunity by adding a unique treatment solutions platform to our water chemicals business,” said Chemtrade’s President and CEO Scott Rook. “Polytec’s founder, Jack Harmon, has built a company with a well-known reputation for high quality service and products that will be an excellent complement to Chemtrade’s industry-leading manufacturing capabilities. Moreover, Polytec diversifies Chemtrade’s customer base while contributing to our Vision 2030 framework,” concluded Mr. Rook.

Commenting on the closing of the acquisition, Chemtrade’s CFO, Rohit Bhardwaj, said, “The acquisition of Polytec is possible, in significant part, because of the steps we have taken to strengthen and mature our balance sheet. Chemtrade’s robust cash flows, further enhanced by those of Polytec, ensure significant capacity to continue investments in high-return organic growth projects and to return capital to unitholders. Following the closing of the acquisition, Chemtrade’s leverage remains within our target range and we have ample liquidity.”

AboutChemtrade

Chemtrade operates a diversified business providing industrial chemicals and services to customers in North America and around the world. Chemtrade is one of North America’s largest suppliers of sulphuric acid, spent acid processing services, inorganic coagulants for water treatment, sodium chlorate, sodium nitrite and sodium hydrosulphite. Chemtrade is also a leading producer of high purity sulphuric acid for the semiconductor industry in North America. Chemtrade is a leading regional supplier of sulphur, chlor-alkali products, and zinc oxide. Additionally, Chemtrade provides turnkey water treatment solutions, as well as industrial services such as processing by-products and waste streams.

Caution Regarding Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking statements within the meaning of certain securities laws, including the Securities Act (Ontario). Forward-looking statements can be generally identified by the use of words such as “anticipate”, “continue”, “estimate”, “expect”, “expected”, “intend”, “may”, “will”, “project”, “plan”, “should”, “believe” and similar expressions. Specifically, forward-looking statements in this news release include statements with respect to Chemtrade’s ability to cross-sell in North America; Chemtrade’s ability to expand its water solutions footprint for the food-processing industry and municipal markets while adding to its range of products; the length of time Mr. Harmon will remain involved with the business; its ability to achieve the objectives of Chemtrade Vision 2030, the ability of Chemtrade to maintain leverage at targets and maintain ample liquidity, the expected enhancement of Chemtrade’s cashflow through the acquisition of Polytec and the ability to maintain significant capacity to continue investments in high-return organic growth projects and to return capital to unitholders. Forward-looking statements in this news release describe the expectations of the Fund and its subsidiaries as of the date hereof. These statements are based on assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements for a variety of reasons, including without limitation the risks and uncertainties detailed under the “RISK FACTORS” section of the Fund’s latest Annual Information Form and the “RISKS AND UNCERTAINTIES” section of the Fund’s most recent Management’s Discussion & Analysis.

Although the Fund believes the expectations reflected in these forward-looking statements and the assumptions upon which they are based are reasonable, no assurance can be given that actual results will be consistent with such forward-looking statements, and they should not be unduly relied upon. Except as required by law, the Fund does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or for any other reason. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement.

Further information can be found in the disclosure documents filed by Chemtrade Logistics Income Fund with the securities regulatory authorities, available at www.sedarplus.com .

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Contacts:

For further information, please contact:
Endri Leno
Vice President, Investor Relations
Email: investor-relations@chemtradelogistics.com

Source: Chemtrade Logistics Income Fund