German chemical distributor Brenntag has signed an agreement to purchase Leis Polytechnik for €15.9 million. The company specializes in the development, production and distribution of high-performance polymer compounds.

The acquisition expands Brenntag’s engineering and high-performance polymers portfolio to include compounding, which the distributor notes is a fast-growing business.

Anthony Gerace, Brenntag’s managing director for Mergers & Acquisitions, said Leis is a perfect supplement to its market footprint and portfolio of specialty polymers. The company supplies around 700 products for various applications in the automotive, electronics, medical technology, packaging, and building and construction industries.

The acquired business is expected to generate sales of about €11.3 million in the 2016 financial year. The transaction is due to close in the coming weeks.