November 13 2023, David R Brown
IMCD India to acquire two business lines from CJ Shah & Company
IMCD N.V., a global leading distribution partner, and formulator of speciality chemicals and ingredients, has announced that IMCD India has signed an agreement to acquire two business lines from CJ Shah & Company for cellulose acetate butyrate, coalescing agent, polyolefin polymers, and other chemicals primarily for paints, coatings, adhesives and life sciences applications.
Acquiring these businesses strategically enhances our capabilities and product lines, positioning us as the market leader in coatings and constructionNarendra Varde
Managing Director, IMCD India & Bangladesh
With 20 employees, these businesses generated a revenue of approximately INR 2,300 million (ca. ~EUR 25 million) in the financial year that ended on March 31, 2023. They serve a large group of customers with an extensive portfolio of products alongside commercial, technical, and laboratory support.
“India has experienced rapid growth in automobile, construction, and infrastructure, driving increased demand for coatings and adhesives. Acquiring these businesses strategically enhances our capabilities and product lines, positioning us as the market leader in coatings and construction,” said Narendra Varde, Managing Director, IMCD India & Bangladesh.
“We are delighted to partner with IMCD for two of our business lines and we wish them all the best,” said Apurva Shah, Managing Partner, CJ Shah & Company.
The closing of the transaction is subject to customary closing conditions and is expected to take place in the last quarter of 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