May 5 2023, David R Brown
IMCD enters Israeli industrial market with the acquisition of KOI Products Solutions
IMCD N.V., a leading global distributor of speciality chemicals and ingredients, has signed an agreement to acquire 100% of the shares of KOI Products Solutions and Engineering Ltd ("KOI Products Solutions"), an Israeli distributor of specialties operating mainly in industrial markets.
The acquisition of KOI Products Solutions represents another important step into the expansion of our industrial business in IsraelMember of IMCD Group Executive Committee and Director for IMCD Coatings & Construction
Founded in 1986, KOI Products Solutions has developed long-standing partnerships with some of the world's leading suppliers of specialty products and predominantly serves the composite, paint, cosmetics, coatings, and ink markets. The company, based in Petach Tikva, Israel, generated a revenue of above EUR 8 million in financial year 2022 and adds 13 employees to the IMCD Israel team.
“The acquisition of KOI Products Solutions represents another important step into the expansion of our industrial business in Israel. KOI's Products Solutions' established supplier and customer base in Advanced Composites and Coatings, their deep understanding of the local market and strong team, make them an excellent fit for IMCD. We are very glad to welcome KOI Products Solutions to our company and look forward to working together to deliver even greater value to our customers,” commented Frank Schneider, Member of IMCD Group Executive Committee and Business Group Director IMCD Coatings & Construction.
“KOI Products Solutions is honored to become part of IMCD in Israel. We are confident that by combining IMCD's experience, know-how, line of products and approach with KOI Products Solutions' strong and faithful suppliers, customers, and employees, it will position IMCD & KOI Product Solutions as one of the leaders in our unique market. We are very excited and fully committed to fulfilling our joint vision by delivering a better value to our partners,” said Erez Harpaz, Chairman of KOI Products Solutions and Danny Kaplan, CEO of KOI Products Solutions.
The closing of the transaction is subject to customary closing conditions and is expected to take place in June 2023.
About IMCD N.V.
IMCD is a market-leader in the sales, marketing, and distribution of speciality chemicals and ingredients. Its result-driven professionals provide market-focused solutions to suppliers and customers across EMEA, Americas and Asia-Pacific, offering a range of comprehensive product portfolios, including innovative formulations that embrace industry trends.
Listed at Euronext, Amsterdam (IMCD), IMCD realised revenues of EUR 4,601 million in 2022 with nearly 4,323 employees in over 50 countries, working from 109 offices spanning 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 60,000 customers and a diverse range of world class suppliers.
Source(s): IMCD Press Release