05:36 PM EDT, 08/14/2025 (MT Newswires) -- Chemtrade Logistics Income Fund (CHE-UN.TO) on Wednesday agreed to acquire Polytec, a southeastern U.S. turnkey water treatment solutions provider, for US$150 million and reported a 34% drop in its second-quarter profit.

The deal values Polytec at a 6.5 last-twelve-months adjusted EBITDA multiple and Chemtrade will finance the acquisition by drawing on its credit facility.

The company anticipates the deal will close during the fourth quarter of 2025, and is subject to regulatory approvals.

"This transaction will enable Chemtrade to expand its footprint in water solutions for the food-processing industry and municipal markets while also adding to our range of products" chief executive Scott Rook said.

The acquisition comes as the fund reported second-quarter earnings of $9.7 million, down by $4.9 million from the year-prior quarter. It attributed the drop to "non-cash impairments of the Prince George sodium chlorate plant and the sodium nitrite Cash Generating Unit".

Revenue rose 11% to $496.7 million, up 11% from a year earlier.

Chemtrade units closed down $0.08 to $11.12 on the Toronto Stock Exchange.