IMCD to acquire European speciality chemicals distributor Velox
29 Août 2018 - 07:00AM
ROTTERDAM, The Netherlands (29 August,
2018) - IMCD N.V. ("IMCD" or "Company"), a leading
distributor of speciality chemicals and food ingredients, today
announces that it signed an agreement to acquire 100% of the
outstanding shares of Velox GmbH ("Velox"), 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.
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 € 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. For further information, please
visit www.imcdgroup.com or contact ir@imcdgroup.com.
PRESS RELEASE_IMCD to acquire
speciality chemicals distributor Velox
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The issuer of this announcement warrants that they are solely
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information contained therein.
Source: IMCD N.V. via Globenewswire
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