The value of the transaction was not disclosed, and the deal is slated to be completed in the second quarter of 2022, pending antitrust approval.

Merksem, Belgium-based Manuchar is a distributor of chemical products in emerging markets and handles over 5 million metric tons of goods per year. The company complements its chemicals distribution activities with international trade services in steel, polymers, and other raw materials.

Manuchar's end-to-end chemical distribution business serves various industries, including homecare, personal care, food and feeds, agriculture, mining, oil and gas, glass, textiles, paper, and water treatment. Its international trade activities cover steel, plastics, cement, wood, paper, spare parts, and pharmaceuticals.

The seller, Ackermans & Van Haaren, is a diversified Belgian group active in infrastructure and marine engineering, private banking, real estate, and leisure and seniors care.

Lone Star was counseled on the transaction in all aspects of Peruvian law by Philippi Prietocarrizosa Ferrero DU & Uría (PPU), with a team led by partner Rafael Boisset, principal associate Raúl Vizcarra and associate Alessandro Mussio.

The private equity firm focuses on investing across several strategies. The Firm's primary investment activity surrounds financial services and real estate, and generally looks to acquire distressed debt and equity assets including corporate, commercial real estate, single family residential and consumer debt products as well as banks and asset-rich operating companies.