Sep 29, 2021
ROTTERDAM, The NetherlandsCorporate
IMCD strengthens its waterborne coatings solutions with the acquisition of Aquatech
IMCD N.V. (“IMCD” or “Company”), a leading distributor of speciality chemicals and ingredients, today announces that IMCD China has signed an agreement to acquire Aquatech Speciality (Shanghai) International Trading Co., Ltd. and Aquatech Speciality (Guangzhou) Trading Co., Ltd. (“Aquatech”) in China.
Pictured in the photo are (from left to right):
- Gene Chen, General Manager of Aquatech
- Peter Shek, Owner of Aquatech
- Upper left on screen - Fenna van Zanten, Legal Counsel, IMCD Group
- Lower left on screen - Philippe Russso, Regional Business Group Director, IMCD APAC
- Upper right on screen - Andreas Christopher Igerl, Managing Director, IMCD China
- Lower right on screen - Haiko Zuidhoff, Vice President, IMCD APAC
- Joe Cao, Commercial Director Industrial, IMCD China
- Katja Tang, M&A Integration Manager, IMCD China
Since its establishment in 2004, Aquatech has been active in waterborne solutions in coatings, ink, and textile industries. Aquatech generated a revenue of approximately RMB 51 million (ca. EUR 6.7 million) in 2020 and adds 10 employees to the IMCD China team. Aquatech’s coatings business enhances the future focused portfolio of IMCD Coatings & Construction Business Group in China.
“Aquatech’s philosophy of value creation matches perfectly with IMCD’s strategy to become a strong partner for our customers and suppliers for sustainable coatings solutions in China” commented Andreas Igerl, Managing Director of IMCD China.”
“Today is a significant day for Aquatech as we join IMCD as part of their global network. With IMCD’s global connection and technical expertise, plus our local presence and capability, I am confident that we will provide more added value to our customers and partners to drive sustainability in the coatings industry,” said Peter Shek, owner of Aquatech.
The closing of the transaction is expected to take place in November.
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