November 22 2021, David R Brown
Goldman Sachs sells Caldic to Advent International to create a global market leader
Goldman Sachs Asset Management has reached a conditional agreement to sell Caldic BV to Advent International. Caldic is a global ingredients and specialty chemicals distributor providing value-add solutions for life sciences and industrial markets with the ambition of being a true partner to its customers and principals.
We see great prospects in the combination with GTM, nearly doubling the size of the New Caldic from the startRonald Ayles
Managing Partner and Global Head of Chemicals at Advent
With a leading presence in Europe, North America and Asia-Pacific, Caldic's strengths lie in its global network combined with local expertise, giving the flexibility to meet customer-specific requirements, through customized formulation support and dedicated mixing and blending capabilities. The transaction is expected to close in the first half of 2022.
The acquisition by Advent is expected to further accelerate Caldic's growth. In 2014, the firm acquired GTM, the largest independent specialty chemicals distributor in Latin America. GTM has grown to become one of only two chemical distribution companies with a fully Latin-American footprint. Joining forces with Caldic, will create a truly global industry leader. Under Advent's ownership, the combination, that will operate under the Caldic brand, will have the opportunity to continue its growth and further accelerate it, both organically as well as through acquisitions.
Alexander Wessels, CEO of Caldic, stated, “We are thrilled that Advent International is stepping in to support us in this next phase. Their commitment will help Caldic to achieve the next level of its growth ambitions and extend its global reach. Joining forces with GTM is an attractive next step for Caldic as we continue to build our value-add capabilities across the globe.”
Ronald Ayles, Managing Partner and Global Head of Chemicals at Advent adds: “As with all our investments, we pursue a long-term growth approach and intend to support Caldic throughout the next phase of growth. We see great prospects in the combination with GTM, nearly doubling the size of the New Caldic from the start and we look forward to working in close cooperation with the highly qualified employees and management team to firmly establish the combination as a global growth platform.”
Caldic is a full-service solution provider engaged in the development of specialty solutions in the food, health & personal care and industrial markets. With locations throughout Europe, North America and Asia-Pacific, its strengths lie in its global network combined with local expertise, giving the flexibility to answer local needs and build domestic partnerships. Operating with in-house warehouses, manufacturing facilities and technical expertise, the company provides tailored solutions that contribute to customers’ business successes.
GTM is the leading independent specialty chemicals distributor in Latin America. The company has experienced strong organic growth in recent years as a provider of value-added solutions and highly customized specialty products in Home and Personal Care, Fragrances, Rubber, CASE and Lubricants. This growth has been accelerated through the acquisitions of leading specialty players like High Chem in Mexico, and quantiQ and GoalTech in Brazil.
Source(s): Caldic Press Release