IMCD completes acquisition of European speciality chemicals distributor Velox
ROTTERDAM, The Netherlands (26 September 2018) – IMCD N.V. (“IMCD” or “Company”), a leading distributor of speciality chemicals and food ingredients, today announces that it has successfully completed the acquisition of 100% of the outstanding shares of Velox GmbH (“Velox”), a group of companies with its headquarter in Hamburg, Germany. The agreement on the acquisition of Velox was announced by IMCD in its press release of 29 August 2018.
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.
With this acquisition, IMCD further strengthens its position as distributor of speciality plastics and additives.