Aug 29, 2018
ROTTERDAM, The NetherlandsCorporate
IMCD to acquire European speciality chemicals distributor Velox
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.
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.