August 29 2018, David R Brown
IMCD to acquire European speciality chemicals distributor Velox
IMCD N.V., a leading distributor of speciality chemicals and food ingredients, has signed an agreement to acquire 100% of the outstanding shares of Velox GmbH, a group of companies with its headquarter in Hamburg, Germany. With an extensive commercial network across Europe and its long-standing relationships with global suppliers in the plastics, composites and other specialities markets, Velox is an excellent fit with IMCD's existing operations. The transaction is subject to regulatory review.
This acquisition enables IMCD to further strengthen its position as distributor of speciality plastics and additivesPiet van der Slikke
CEO of IMCD
Velox was established in 1993 and is a European distributor with a focus on specialities for the plastics, composites, additives, rubber, paints and coatings industries. With approximately 225 employees in 18 countries Velox generated EUR 155 million revenue and a normalised EBITDA of EUR 5.4 million in 2017.
Piet van der Slikke, CEO of IMCD, commented: “This acquisition enables IMCD to further strengthen its position as distributor of speciality plastics and additives. Our portfolios very well complement each other, and we expect to be able to create more value for our suppliers and customers.”
Francois Minec, General Manager of Velox added: “Joining IMCD will provide Velox with excellent opportunities to further develop and execute its strategy as a leading distributor to the plastics- and composite industries.”
The acquisition will be paid from available cash and existing bank facilities.
About IMCD N.V.
IMCD is a market-leader in the sales, marketing and distribution of speciality chemicals and food ingredients. Its result-driven professionals provide market-focused solutions to suppliers and customers across EMEA, Asia-Pacific and Americas, offering a range of comprehensive product portfolios, including innovative formulations that embrace industry trends.
Listed at Euronext, Amsterdam (IMCD), IMCD realised revenues of EUR 1,907 million in 2017 with more than 2,200 employees in 46 countries on 6 continents. IMCD's dedicated team of technical and commercial experts work in close partnership to tailor best in class solutions and provide value through expertise for around 34,000 customers and a diverse range of world class suppliers.
Source(s): IMCD Press Release