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    Category Archives: News

    Univar prices Shares in IPO on NYSE

    Univar prices IPO of Common Stock and starts trading on NYSE

    Chemical distributor Univar, Inc. (Downers Grove, IL – USA) yesterday announced that the IPO of its common stock will commence at a price of USD 22.00 per share.

    Univar will sell 20’000’000 shares and certain of the shareholders will sell 15’000’000 shares in the offering. Within a 30-day period, the underwriters have the option to purchase up to an additional 5’250’000 shares of common stock from certain of the shareholders.

    Source: Univar website

    HGE – DCG / 18.06.2015

    DistriConsult comment: The shares have begun trading on the New York Stock Exchange under the symbol UNVR at an opening price of USD 24.10 earlier today (Source: NYSE website at 19:45 CEST).

    KODA acquires Colonial Specialty Chemicals

    KODA Distribution Group has acquired Colonial Specialty Chemicals in an Asset Deal

    North American specialty chemicals distributor KODA Distribution Group (KDG) (Stamford, CT – United States) earlier his week announced that it has acquired the assets of Colonial Specialty Chemicals (CSC) (Conshohocken, PA – United States). The group is planning to integrate these into subsidiary Monson Companies located in Leominster, MA in order to enhance its capabilities with customers in the Lubes and Metalworking markets

    No financial details were disclosed on this transaction.
    Source: KODA Distribution Group website

    HGE – DCG / 09.06.2015

    Univar announces Commencement of IPO

    Univar announces IPO on the NYSE

    Chemical distributor Univar, Inc. (Downers Grove, IL – United States) announced that it has started the initial public offering (IPO) of 20’000’000 shares of common stock at an expected price range of USD 20.00 to 22.00 per share. To that effect a registration statement on Form S-1, as amended, has been filed with the U.S. Securities and Exchange Commission (SEC). This statement is not yet effective.

    Univar said it intends “to use the proceeds of the offering and a concurrent private placement principally to redeem, repurchase, or otherwise acquire or retire USD 650 mn of its outstanding Subordinated Notes due in 2017 and 2018, pay associated fees and expenses, and for general corporate purposes.”

    According to the statement, the underwriters have a 30-day option to purchase up to an additional 3’000’000 shares of common stock from certain of Univar’s shareholders.

    Source: Univar press release

    HGE – DCG / 08.06.2015

    Brenntag expands Management Board to five Members

    Brenntag expands Management Board and thanks Bill Fiedler for his Contribution

    Global chemical distributor Brenntag AG (Mülheim an der Rugr, Germany) last week announced that the company will expand its Management Board to five members effective 01. July 2015.

    In addition to serving members Steven Holland (CEO) and Georg Müller (CFO), Brenntag managers Karsten Beckmann (CEO Brenntag Europe, Middle East and Africa [EMEA]) , Markus Klähn (CEO Brenntag North America) and Henri Nejade (CEO Brenntag Asia-Pacific) have been appointed to the Board.
    William Fidler, who was so far in charge of North and Latin America, is to retire from the Management Board when his service contract expires on 30. June 30, 2015. He had originally joined a Brenntag predecessor in 1970. His responsibilities for Latin America will be taken over by Steven Holland in addition to his existing role as Group CEO.
    Chairman Stefan Zuschke is quoted paying tribute to William Fidler on his retirement from the Management Board: “In his decades of service at Brenntag, William Fidler witnessed at first hand many important phases in the company’s history and was instrumental in driving forward its development in the North America region in particular. With his outstanding expertise and excellent management skills, he played a significant part in Brenntag’s international success. The Supervisory Board, Management Board and the Executive & Senior Management Team thank him for his sterling work and his commitment to the Group and wish him all the best for the future.”
    Source: Brenntag press release

    HGE – DCG / 08.06.2015

    Georg Nordmann Holding AG appoints Dr. Peter Manshausen to Management Board

    New Management Board Member at Georg Nordmann Holding AG

    Georg Nordmann Holding AG (Hamburg Germany), the parent company of specialty chemicals distributor Nordmann Rassmann GmbH (NRC) has appointed Dr. Peter Manshausen to its management board. He will join the board effective 01. June 2015, besides Chairman Edgar E. Nordmann and Board Member Gabriele Henke, NRC said in the announcement.

    Manshausen, who hold a doctorate degree in chemistry, has more than 20 years of experience in the chemical industry. Most recently he held the position of Managing Director at Caldic Deutschland Chemie B.V. (Düsseldorf, Germany).

    Source: NRC website

    HGE – DCG / 20.05.2015

    IMCD completes Share Offering

    IMCD completes Share Offering to finance Acquisition of US Distributor The M.F. Cachat Company

    Specialty chemicals distributor IMCD N.V. (Rotterdam, The Netherlands) last week announced that the company has raised EUR 85 mn of equity through the offering of 2.6 million newly issued shares, representing 5.2% of the company’s share capital before the capital increase and 4.0% after the transaction. The offer price was EUR 32.79 per share. The net proceeds will be used to finance the acquisition of 80% of US specialty chemicals distributor The M.F. Cachat Company, including 100% of MJS Sales Inc., according to the statement.
    In parallel to the capital increase by the company, Emma (BC) Holding S.C.A., an entity indirectly controlled by the investment funds managed by Bain Capital Investors, LLC, has sold 7.4 million ordinary shares in IMCD to institutional investors at an offer price of EUR 32.79 per share.
    The offer received strong support from institutional investors, IMCD said.

    Source: IMCD press release

    HGE – DCG / 18.05.2015

    Brenntag expands in Spain

    Brenntag acquires local Distributor Quimicas Meroño in Spain

    Global chemical distributor Brenntag AG (Mülheim an der Ruhr, Germany) has acquired Quimicas Meroño, S.L. (Cartagena, Spain), a distributor of industrial chemicals with a strong coverage in the Murcia region.
    The acquired business has generated total sales of EUR 12.7 mn in FY2014. No further details were disclosed on the transaction, which was effective 13.May 2015.

     

    Source: Brenntag press release

     

    HGE – DCG / 17.05.2015

    Brenntag Q1-2015 Results benefit from week Euro

    Brenntag reports Double-digit Growth in Profitability for Q1-2015

    Global chemical distributor Brenntag AG (Mülheim an der Ruhr, Germany) last week reported on the group’s financial results for Q1-2015. Sales from January to March were EUR 2’574 mn, an increase of 6.5% on the previous year (as reported). Gross profit was 15.2% higher (as reported) at EUR 557.3 mn. This reflects an increase of 4.3% on a constant currency basis. Operating EBITDA amounted to EUR 195 mn, an increase of 22.2% as reported (+9.7% on a constant currency basis).
    The Profit after Tax (PAT) of EUR 91 mn in the first quarter of 2015 represents earnings per share for Brenntag’s shareholders of EUR 0.59, up from a figure of EUR 0.45 for the same quarter in the previous year. Free Cash Flow (FCF) was EUR 161 mn, more than twice the level of the first quarter of 2014 with EUR 71 mn, Brenntag said in the statement.
    Steven Holland, CEO of Brenntag AG, is quoted saying: “Our company has made a strong start to [sic!] the 2015 financial year. In a macroeconomic environment characterized by moderate recovery, in the first quarter of 2015 we achieved growth in our key financial metrics. … All of our regions have contributed to this positive development.”

    Source: Brenntag press release, for the full text see the following link: http://www.brenntag.com/en/pages/Presse/news/2015/Q1_2015.html

    HGE – DCG / 17.05.2015

    DistriConsult Comment: A few days before the release of the Q1-2015 figures, Brenntag had announced the relocation of its headquarters from Mülheim an der Ruhr to the neighbouring city of Essen. This move, which is planned for end of 2017, will be to a new building of ca. 20’700 square meters space in an area called Gruga Carree in Essen-Rüttenscheid. (NB: Corresponding press release only available in German).

    IMCD to acquire MF Cachat in the US

    IMCD to acquire US specialty chemicals distributor The M.F. Cachat Company

    International specialty chemicals distributor IMCD N.V. (Rotterdam, The Netherlands) announced it will acquire 80% of The M.F. Cachat Company (Lakewood, OH – US), including 100% of MJS Sales, Inc. (“MF Cachat”) from the company’s management, who will continue to lead the company. The remaining 20%, which are also owned by management, will be acquired at the latest in 2017.

    In 2014, MF Cachat generated revenue of USD 300 mn (including USB 3 million of MJS Sales)  with ca. 90 employees. The company has a focus on Coatings, Construction, Plastics, Advanced Materials and Food and is active in the Midwest, Central, Eastern and Southern regions of the US. It represents represents leading global chemical suppliers in more than 30 states.
    According to the statement from IMCD, “MF Cachat fits well with the IMCD business model and strategy and provides a significant platform for further growth in the United States which is a growing specialty chemicals region.”
    IMCD is planning to pay for the acquisition with available cash, existing facilities and an additional incremental term loan facility of EUR 30 mn, pursuant to the terms of its current facilities agreement and newly issued shares with a value of approximately EUR 85 mn.

    Closing of the transaction, which is subject to the customary regulatory review, is expected for June/July 2015.

    Source: IMCD press release

    HGE – DCG / 15.05.2015

    Peter Wilkes joins Biesterfeld Spezialchemie as Managing Director

    Peter Wilkes new Managing Director at Biesterfeld Spezialchemie GmbH

    Chemicals and plastics distributor Biesterfeld AG (Hamburg, Germany) has appointed Peter Wilkes as Managing Director for its subsidiary Biesterfeld Spezialchemie GmbH effective 01. May 2015. He will be responsible “for the further strategic development and the operative business of the company and its subsidiaries”, Biesterfeld said in a statement.

    Wilkes, who holds a degree in economics and earned an Executive MBA from the University of Chicago, will work with Dr. Nicole Hamelau as co-Managing Director.
    Previous stations in his international career in the specialty chemcals industry of more than 25 years include management positions at companies like Kolb AG, Air Products and Chemicals, Inc. and The Dow Chemical Company.
    He succeeds Thomas Arnold, who was named CEO of Biesterfeld AG earlier this year.

    Source: Biesterfeld press release

    HGE – DCG / 13.05.2015

    Biesterfeld publishes 2014 Results

    Biesterfeld 2014 Results show slight Increase in Sales

    Plastics and specialty chemicals distribution group Biesterfeld AG (Hamburg, Germany) announced last week that it increased its turnover in 2014 by 2.0% to a level of approx. EUR 1’078 mn.

    Biesterfeld Plastics continues to be the largest unit with a turnover of EUR 588 mn (270 employees). Biesterfeld Spezialchemie and Biesterfeld International account for EUR 219 mn (244 employees) and EUR 260 mn (110 employees) respectively. Western Europe including Germany accounts for 60% of the turnover.

    Operative earnings were by 10.2% to a level of EUR 32.4 mn, despite what Thomas Arnold, Chairman of the Executive Board described as “inconsistent price and market developments worldwide, the decline in oil prices in the second half of the year and the consequences of the Russian-Ukraine.”

    Source: Biesterfeld press release and website

    HGE – DCG / 11.05.2015

    IMCD Q1-2015 Results and AGM

    IMCD publishes Q1-2015 Results and holds AGM

    Specialty chemicals distributor IMCD N.V. (Rotterdam, The Netherlands) yesterday reported on its Q1 results.
    Revenues increased 3% to EUR 355.6 mn compared to EUR 345.7 mn for the same period last year. On a constant currency basis revenue decreased by 1%, influenced by decisions to optimise the product portfolio, IMCD said in a stateement.
    Gross profit was up by 8% at EUR 79.1 mn (+5% on a constant currency basis). This is equivalent to a gross profit margin of 22.2%, up from 21.1% in the first quarter of 2014. While gross profit margins increased in Europe and Asia Pacific, they were more or less stable in Other Emerging Markets, i.e. Brazil, South Africa and Turkey.
    Operating EBITA was up by 9% at EUR 30.5 mn (+5% on a constant currency basis). The operating EBITA margin of 8.6% compares with 8.1% in the first quarter of last year. IMCD said, operating EBITA margins were higher in Europe and Asia Pacific and declined in Other Emerging Markets.
    The Annual General Meeting of IMCD, held on 29. April 2015, approved all voting items on the agenda including the adoption of the financial statements for the financial year 2014 and the approval of the dividend proposal of EUR 0.20 per ordinary share.

    Source: IMCD press releases

    HGE – DCG / 30.04.2015

    KODA expands in Canada

    KODA Distribution Group acquires Unipex Solutions Canada

    U.S. specialty chemicals distributor KODA Distribution Group (Stamford, CT – U.S.) last week announced the acquisition of Unipex Solutions Canada (Quebec, Canada), a distributor of specialty chemicals to the Cosmetics, Pharmaceutical and Nutrition industries.
    The target has been a wholly-owned subsidiary of Unipex Group (Paris, France) and was to-date responsible for the North American distribution activities of this developer, manufacturer and distributor of active ingredients, mainly to the Cosmetics industry.

    Source: KODA website

    HGE – DCG / 27.04.2015

    Biesterfeld Plastics expands in Brazil

    Biesterfeld forms Polymers Distribution Joint Venture in Brazil

    European plastics and rubber distributor Biesterfeld Plastic GmbH (Hamburg, Germany) last week announced the formation of Biesterfeld Simko Distribuição Ltda. as a 50/50 joint venture with the Brazilian subsidiary Simbras Ltda. of Latin American plastics and rubber distributor Simko S.A. (Buenos Aires, Argentina).
    The JV will have its main office in São Paulo, SP and a sales office in Florianópolis, SC.
    Biesterfeld said that “with immediate effect Biesterfeld Simko Distribuição Ltda. has been appointed Key-Distributor in Brazil by DuPont´s Performance Polymer division, a long standing partner for Biesterfeld Plastic GmbH across Europe.”

    Source: Biesterfeld press release

    HGE – DCG / 27.04.2015

    Univar acquires Key Chemical

    Univar acquires Key Chemical, Inc. in the US

    Chemical distributor Univar, Inc. (Downers Grove, IL – USA) has acquired Key Chemical, Inc. (Waxhaw, NC – USA), a supplier of chemicals to the municipal water, industrial, and oil and gas markets. The company is one of the largest suppliers of Hydrofluorosilicic Acid (Fluoride) in the US.

    Founded in 2002, Key Chemical specializes in blends of Hydrofluorosilicic Acid that are UL certified to meet NSF/ANSI Standard 60 for use in water fluoridation.  The acquired business will be combined with Univar USA’s operations, the company said in a statement.

    No financial details were disclosed on the transaction, which includes all the outstanding stock of Key Chemical.
    Source: Univar website

    HGE – DCG / 20.04.2015

    Fecc Congress 2015

    Fecc Congress 2015 in Athens is less than four Weeks away

    It is less than four weeks before the chemical distribution industry in Europe is meeting again for the Fecc Congress 2015. This important industry gathering will take palce from 06. to 08. May 2015 in Athens, Greece. Venue will be the Hotel Grande Bretagne, a landmark hotel situated right in the heart of the city, on Syntagma Square.

    Almost 150 high level participants, representing suppliers, distributors, third party service providers and the press, have registered to date.
    “Long term sustainability with Responsible Care as the core element is of vital importance for the future of the chemical distribution industry. Our industry has already dedicated vast resources to the various aspects of these concepts in the past. We believe that it is of utmost importance to continue our efforts, which is why this year the theme of the congress is “Towards a sustainable future”, said Uta Jensen-Korte, Secretary General of Fecc.
    The sessions will address themes like:

    Does size matter? Success Factors in  the Chemical Distribution Industry
    How to plan for the long-term ?
    Global Perspective of Chemical Distribution Market
    New Developing Markets
    Compliance & Communication in the Supply Chain
    Sustainability, putting it in perspective
    New Trends

    For more information see http://www.fecc-congress.com/ and http://www.grandebretagne.gr/.

    Source: Fecc

    HGE – DCG / 10.04.2015

    Biesterfeld appoints new MD

    Biesterfeld appoints Martin Umbach as Managing Director for Plastics Division

    Chemicals, Plastics and Rubber distributor Biesterfeld AG (Hamburg, Germany) yesterday announced the appointment of Martin Umbach as Co-Managing Director of its subsidiary Biesterfeld Plastic GmbH besides incumbent Carsten Harms, who is also a member of the Executive Board of Biesterfeld AG.
    Umbach, who joined Biesterfeld in 2001 in a product management role, has most recently been leading the BU Standard Polymers with a global turnover of ca. EUR 200 mn. He will now take on additional operational responsibilities with a focus on Germany, the groups said in a statement.

    Source: Biesterfeld press release

    HGE – DCG / 09.04.2015

    VCH Trade Figures for 2014

    Verband Chemiehandel (VCH) publishes 2014 Trade Figures

    German chemicals distribution trade association Verband Chemiehandel e.V. (Cologne, Germany) has recently published its annual set of statistical data “The Chemical Wholesale Trade in Figures – 2014”.
    Reported turnover (excl. VAT) was EUR 13’412 mn, an increase of 4.0% versus the previous year. Inventory holding distributors (“Platzhandel”) contributed EUR 4’113 mn or 30.7%, up 3.8%. Specialty distributors and importers / exporters  accounted for EUR 9’299 mn or 69.3%, up 6.4%. That second figure is further broken down into domestic sales of EUR 5’014 mn with a growth rate of 2.2% and sales via subsidiaries abroad of EUR 4’285 mn, which grew 6.4%.
    Total domestic turnover amounted to EUR 9’127 mn, of which 34.0% were direct shipments (“Streckengeschäfte”).
    The number of companies is reported at 153 (est.). Total employment in the sector is close to 7’200 jobs.

    Source: Verband Chemiehandel website, see www.vch-online.de for more information

    HGE – DCG / 08.04.2015

    DistriConsult comment: For the full text see https://www.vch-online.de/images/downloads/TRADE/CIZ_14_englisch.pdf in English and https://www.vch-online.de/images/downloads/TRADE/CIZ-14.pdf in German.

    IMCD acquires in India to expand Food Ingredients

    IMCD acquires Mumbai-based Kushalchand

    Specialty chemicals and food ingredients distributor IMCD N.V. (Rotterdam, The Netherlands), last week announced that it has completed the acquisition of Kushalchand Sons (Mumbai, India).

    The company, originally established in 1922, is a distributor of speciality food ingredients to the processed food industry in India and has revenues of ca. EUR 9 mn. The business will be integrated into IMCD India and 18 employees have already transferred, the company said.

    Source: IMCD press release

    HGE – DCG / 08.04.2015

    Barentz acquires in Indonesia

    Barentz International acquires Astabumi in Indonesia

    Food ingredients and additives distributor Barentz International N.V. (Hoofddorp, The Netherlands) last week announced that it has acquired PT Astabumi Ciptadaya (Jakarta, Indonesia), a distributor of specialty ingredients for the Food & Nutrition industry in Indonesia. The company, which had been established in 1988, supplies customers in the Food, Beverage, Confectionary, Nutrition, Health & Well-being sectors across Indonesia,
    The two companies plan to integrate their businesses over the next few months. They will continue to operate with both trading names, under the legal entity PT Barentz Indonesia. Barentz itself has been active in Indonesia under its own brand since 2012.
    No financial details were disclosed on the transaction, which follows a recent capital injection at Barentz from an unnamed equity investor.

    Source: Barentz press release

    HGE – DCG / 08.04.2015

    A. Schulman to acquire Citadel

    Plastics Compounder and Distributor A. Schulman to acquire Citadel Plastic Holdings

    Plastics compounder and distributor A. Schulman, Inc. (Akron, OH – United States of America), announced today that it has signed an agreement to acquire Citadel Plastics Holdings, Inc. (“Citadel”) for USD 800 mn. The company, based in West Chicago, IL is a portfolio company of private equity firms HGGC and Charlesbank Capital Partners.

    Citadel is a specialty engineered plastics company that produces thermoset composites and thermoplastic compounds like transportation, industrial & construction, consumer, electrical, energy and healthcare & safety. In 2014, the company had approximately USD 525 mn of pro-forma revenue (giving effect to a recent acquisition) and a pro-forma EBITDA of ca. USD 75 mn. It has 1,200 employees and operates 21 manufacturing facilities throughout the world, including 10 thermoplastic facilities in the United States and Canada, and 11 thermoset composite plants (seven in North America, one in Germany, one in Brazil, and a joint venture consisting of two plants in China).
    The transaction is subject to standard closing conditions. It is expected to close by end of May. A. Schulman expects achieving approximately USD 25 mn in synergies within 18 months of closing, “driven primarily by sourcing activities and plant efficiency actions”.

    Source: A. Schulman press release

    HGE – DCG / 29.03.2015

    Barentz adds Equity Partner

    Dutch Specialty Chemicals Distributor Barentz takes on Equity Partner

    Ingredients and additives distributor Barentz International B.V. (Hoofddorp, The Netherlands), recently announced that the company has added a new equity partner. The name of the investor, a “renowned family office” was not disclosed.
    According to a statement from CEO Hidde van der Waal, the company plans to use the additional funds to “increase geographical reach and expand the product portfolio in order to achieve critical mass and realise economies of scale” in order participate in the industry consolidation it expects to continue in the coming years.

    Source: Barentz website

    HGE – DCG / 26.03.2015

    Brenntag 2014 Results

    Brenntag with growing Sales, Gross Profit and Operating EBITDA in 2014, but flat Profit after Tax

    Global chemical distributor Brenntag AG (Mülheim an der Ruhr, Germany) recently published the group’s results for 2014.
    With Total Sales of EUR 10’016 mn (up 2.5% as reported and 3.2% at constant currency), the reached a Gross Profit of EUR 2’027 mn, an increase of 4.2% as reported and 4.8% at constant currency. Europe accounted for 46.8% of the sales, followed by North America with 38.6%. Latin America and Asia Pacific contributed 8.2% and 5.8% respectively. (Note: The “Other Segments” business of Brenntag Chemicals makes up the residual.)

    The resulting Operating EBITDA was EUR 727 mn (up 4.1% as reported and 4.3% at constant currency), slightly above earlier guidance at a range of EUR 700 to 720 mn.
    At a level of EUR 340 mn, Profit After Tax (PAT) was virtually flat when compared to the EUR 339 mn reached in the previous year. Earnings per share were stable at EUR 2.20 and the company plans to propose a dividend payment of EUR 0.90 per share, a 3.8% increase over the 2013 figure.

    Source: Brenntag media release, the full text can be accessed via the link http://www.brenntag.com/en/downloads/Pressemitteilungen/2015/GJ_2014/PM_FY2014_en1.pdf

    HGE – DCG / 26.03.2015

    IMCD reports strong Results for 2014

    IMCD shows Revenue and Profit Growth for 2014

    Specialty chemicals distributor IMCD N.V. (Rotterdam, The Netherlands) published the group’s annual results for 2014 yesterday. Revenue increased EUR 1’358 mn, up 10% from the EUR 1’233mn in 2013.
    The company said that 6.3% are the result of “a further strengthening of the product portfolio by adding new supplier relations, expanding relations with existing suppliers and an increase of customer penetration by adding new customers and selling more products to existing customers”, while acquisitions completed during the 2013/14 added 4.9% and exchange rate differences had a negative effect of 1.1%. Europe contributed 70.5% to the revenue and Asia-Pacific 20.9%. The remaining 8.6% are generated in Brazil, South Africa and Turkey, three countries which the company calls “Other Emerging Markets” in the reporting.

    Gross profit, defined as revenue less cost of materials and inbound logistics, was EUR 287.6 mn (equivalent to a gross margin of 21.2%), an increase of 10% on the EUR 261.3 mn reported for 2013. This is in line with total revenue growth.
    Operating EBITA increased by 14% to EUR 110.0 mn (equivalent to 8.1% margin), up from EUR 96.6 mn in 2013 (7.8% margin). IMCD calculates EBITA from the results from operating activities before amortisation of intangible assets and non-recurring items, This rise includes the outcome of the annual pension calculation based on IAS 19 reporting requirements. Excluding the adjustment the 2014 operating EBITA increased by 11% to EUR 107.3 mn, IMCD said. The company attributes the growth in operating EBITA to a combination of organic growth, the full year impact acquisitions completed in 2013 (6 transactions) and small acquisitions in 2014 (2 transactions).
    The net result increased from a net loss of EUR 5.4 mn in 2013 to a net profit of EUR 19.9 mn in 2014, driven by the growth of operating EBITA and “a substantial reduction of the net finance costs in the second half of 2014 following the capital restructuring after the IPO” last June. Net debt was reduced to EUR 257.8 mn as per 31. December 2014, down from EUR 823.5 mn at year-end 2013.

    IMCD plans to propose a dividend of EUR 0.20 per share to the Annual General Meeting of Shareholders, which is scheduled to take place at the end of April.

    Source: IMCD press release, for the full text see http://www.imcdgroup.com/sites/default/files/Press%20Release%20-%20FY%202014%20results%20IMCD.pdf

    HGE – DCG / 12.03.2015

    IMCD to be included in AMX Index

    IMCD will join Vopak in the AMX Index later this Month

    Specialty chemicals distributor IMCD N.V. (Rotterdam, The Netherlands) today announced it will be included in the Euronext AMX Index, less than 12 months after its IPO and listing on Euronext Amsterdam on 27. June 2014.

    The inclusion follows Euronext’s annual review, which is based on free-float adjusted market capitalisation and liquidity. It will be effective as of the start of trading on the European markets on 23. March 2015. Since 26. November 2014, IMCD is also included in the MSCI Global Small Cap index.
    Amongst the other 25 companies included in the index are airline Air France – KLM and terminal operator Vopak

    Source: IMCD press release

    HGE – DCG / 06.03.2015

    Brenntag names Global HR Director

    Brenntag appoints Marion Mestrom as Global Human Resources Director

    Global chemical distributor Brenntag AG (Mülheim an der Ruhr, Germany) today announced the appointment of Marion Mestrom as Global Human Resources Director for Brenntag Group, reporting to CEO Steven Holland.

    Mestrom joins Brenntag from Dutch multinational Philips, where she held key positions across several units and has worked extensively on a worldwide basis, covering a broad spectrum of HR and leadership topics, the statement said.

    Source: Brenntag press release

    HGE – DCG / 02.03.2015

    C & CS Spin-off from GWP

    GWP spins off C &CS as separate Legal Entity

    Materials testing firm GWP Gesellschaft für Werkstoffprüfung mbH (Zorneding, Germany) will spin off its catalyst distribution division C & CS as a separate legal entity, to be named C & CS catalysts & chemical specialties GmbH.

    Dr. Julius Nickl will be Managing Director of the new company, in addition to his leadership role at GWP. The spin-off is effective 01. March 2015.

    C & CS distributes catalysts, adsorbents and certain chemical specialties for industrial processes and gas treatment applications.

    Source:  GWP customer communication

    HGE – DCG / 28.02.2015

    DKSH publishes 2014 Results

    DKSH shows Growth in 2014 despite Currency-related Pressure

    Specialty chemicals distributor DKSH AG (Zürich, Switzerland) earlier this week reported sales of CHF 781.9 mn (up 1.5% from the 2013 level of CHF 770.1 mn) for the Performance Materials division. The resulting EBIT amounted to CHF 52.5 mn (down 3.5% vs. the CHF 54.4 mn in 2013). This EBIT-margin level of 6.7% is the highest of all divisions in the group.

    At constant exchange rates the 2014 values were CHF 821.3 mn (up 6.6%) and CHF 55.9% (up 2.8%) respectively. The BU Performance Materials represents 8.0% of the net sales and 16.2% of the EBIT of the company.

    DKSH had acquired ZEUS Quimica (Barcelona, Spain), a regional distributor for specialty chemicals, with activities Spain and Portugal, in June 2014. The company said it plans to make bolt-on acquisitions, in order “to quickly gain critical mass or fill gaps in underrepresented areas”.

    Overall the company has posted net sales of CHF 9.8 bn, an increase of 2.7% (CHF 10.2 bn or + 7.1% at constant exchange rates).

    Source: DKSH annual report, for a full text see http://www.dksh.com/data/docs/download/144490/en/DKSH-Annual-Report-2014-final.pdf

    HGE – DCG / 28.02.2014

    DistriConsult comment:
    DKSH sees itself as the leading provider of “Market Expansion Services”, a term that was developed a few years ago, jointly with Roland Berger Strategy Consultants. The group expects to be a consolidator in what it considers a rapidly growing, yet still fragmented industry.

    Apax will buy Azelis

    Apax Partners and 3i reach Agreement on Sale of Azelis

    Pan-European specialty chemical distributor Azelis Group (Antwerp, Belgium) will change hands again. Private equity investors 3i and Apax Partners (both London, United Kingdom) today announced that Atlas Holding S.A., the holding company of the Azelis Group has signed a binding agreement to sell the group to funds advised by Apax Partners.

    The transaction follows favourable opinions by the relevant workers’ councils of Azelis Group, but is still subject to customary regulatory approvals. It is expected to close in Q2-2015.

    No financial details were disclosed on the transaction. 3i and funds managed by 3i have been invested in Azelis since 2007.

    Source: 3i and Apax Partners press release

    HGE – DCG / 25.02.2015

    Brenntag to acquire Lionheart in South Africa

    Brenntag will acquire Lionheart to increase its Food & Beverage Presence in South Africa

    Global chemical distributor Brenntag AG (Mülheim an der Ruhr, Germany) has agreed to acquire South African distributor Lionheart Chemical Enterprises (Pty) Ltd, the group said today in a statement.

    Lionheart, a specialty distributor market operating mainly in the food & beverage industry, is located in Johannesburg. Sales for FY2014 were ca. EUR 12.0 mn, Brenntag said.
    No financial details were given on the transaction, which is expected to close within a few weeks.

    Source: Brenntag press release

    HGE – DCG / 24.02.2015

    DistriConsult comment:
    After having focused on establishing a footprint in Asia as well as Latin America over the last few years, besides the very comprehensive coverage of Europe and North America built over the last 30 years, Brenntag appears to be increasingly active in Africa and the Middle East.

    Overlack agrees Mezzanine Capital Injection with HANNOVER Finanz Group

    Overlack AG secures Financing for Expansion Plans

    Chemical distributor Overlack AG (Mönchengladbach, Germany) has announced that the company has obtained a tranche of mezzanine financing for its future growth plans from HANNOVER Finanz Group (Hannover, Germany), a financial investor focusing on “Mittelstand” companies.

    No details were disclosed on the volume of the convertible loan (“Wandelanleihe”).
    In 2014, Overlack recorded a turnover of EUR 510 mn, according to the statement. The group, controlled by the Overlack family in the third generation, plans to expand its European network, which today comprises 35 locations in 16 countries. According to Overlack, the growth is to be achieved in both fields, industrial and specialty chemicals, either by organic growth or acquisitions.

    As of 01. January 2015, Heinrich Eickmann (formerly CFO) is acting as-co chair of the group’s executive board, beside previous CEO Peter Overlack. The CFO position is now held by Sabine Moritz, who has recently joined the group from compatriot distributor Brenntag AG. The fourth member of the executive board is CSO (“Vertriebsvorstand”) Markus Hoschke, who was previously working in senior management roles at chemicals and polymers producer Bayer MaterialScience. He is with the company since 2013.

    Source: Overlack press release; HANNOVER Finanz website

    HGE – DCG / 13.02.2015

    DistriConsult comment:
    HANNOVER Finanz Group describes itself as “private equity partner for medium sized enterprises in all industries”. Since October last year, the group is holding a minority share of 28.6% in chemicals and polymers distributor Biesterfeld AG (Hamburg, Germany), after having been a silent partner in the holding company Biesterfeld Vermögensverwaltung GmbH & Co. KG since 2011.

    ApaxPartners may acquire Majority Stake in Azelis

    Apax Partners submit Offer for Azelis and enter exclusive Negotiations with 3i

    Private equity investor 3i Group plc (London, UK) [“3i”] today announced that it has received an offer from funds advised by Apax Partners (London, UK) for its majority stake in specialty chemicals distributor Azelis Group, headquartered in Antwerp, Belgium.

    3i further said that Atlas Holding S.A., the holding company of Azelis Group, has entered into exclusive negotiations with the funds advised by Apax Partners. Where required, the workers’ councils of Azelis Group companies will be consulted on the proposed transaction, which would also be subject to antitrust approval by the relevant authorities.

    Source: 3i press release

    HGE – DCG / 10.02.2015

    Algol Chemicals acquires Amixo in Sweden

    Algol Chemicals acquires Ammonia Distributor Amixo AB in Sweden

    Finnish chemicals distributor Algol Chemicals (Espoo, Finland) will acquire Amixo AB (Kumla, Sweden), a distributor specialised in the distribution of Ammonia, both, as gas and as aqueous solutions.
    According to the statement, Amixo is also involved in the handling, packing and distribution of Water Treatment Chemicals.
    No financial details were disclosed on the transaction, which Algol is expected to close within the next few weeks.

    Source: Algol Chemicals press release

    HGE – DCG / 02.02.2015

    Fecc adds three new Direct CMembers

    Interallis, PolymerTorg and Safic Alcan join Fecc as Direct Members

    The European Association of Chemical Distributors, Fecc (Brussels, Belgium) recently announced that with Safic Alcan (Puteaux / Paris, France), PolymerTorg (Minsk, Belarus) and Interallis (Nicosia, Cyprus), three distributors have joined the association as direct company members.
    Source: Fecc website

    HGE – DCG / 31.01.2015

    TER GROUP expands on Iberian Peninsula

    TER GROUP acquires ADQUIMICA in Portugal and the Paints & Coatings and Construction Business of ADIGROUP in Spain

    German family owned specialty chemicals distributor TER GROUP (Hamburg, Germany), announced earlier this week that it has acquired Portuguese distribution company ADIQUIMICA and the Spanish activities in the “Paints, Coatings and Construction” sector of ADIGROUP (Terrassa, Spain).
    The transaction was made through the group’s Spanish subsidiary TER AS PRODUCTOS S.L., located in Barcelona, Spain. The acquisition is effective 01. January 2015.
    No financial details were disclosed on the transaction.

    Source: TER GROUP press release

    HGE – DCG / 30.01.2015

    DistriConsult comment:
    M&A activity in chemical distribution during the last twelve months was quite strong. Globally, DistriConsult did record a total of 48 transactions in 2014, with 22 of these (ca. 46%) taking place in Europe. This compares with 32 transactions during 2013, an increase of 50% year-on-year. Overall, most of the transactions in 2014 were, in our assessment, driven by the strategy to expand geographic coverage (33%). Consolidation plays, were a direct competitor in the same geography was taken over, accounted for 31% of the reported transactions. From the perspective of size of the buying entity, 44% of the transactions were concluded by buyers with a turnover in excess of EUR 1’001 mn. The mid-sized players (turnover bracket EUR 101 to 1’000 mn) did 38% of the deals.

    Safic-Alcan Management acquires Majority Share

    Management now Majority Shareholders at Safic-Alcan

    European specialty chemicals distributor Safic-Alcan (Puteaux (Paris), France) yesterday announced that the management team, together with the private equity funds Sagard and Euromezzanine, has just concluded the acquisition of the company from Parquest Capital. Through this transaction, Safic-Alcan’s management is now majority shareholder in the company.

    Parquest Capital had taken a majority share in the company at the end of 2007 in a LBO carried out alongside the management team. Since then, Safic-Alcan experienced “significant growth, exceeding the objectives of its initial project”. Revenues grew from EUR 250 mn to almost 400 mn, both through internal growth and add-on acquistions.

    Société Générale Capital Partners (SGCP) also joined the ranks of Safic-Alcan’s capital partners, the company said in a statement.

    According to Martial Lecat, CEO of Safic-Alcan, the new financial partners will enable Safic-Alcan “to continue to develop the group with serenity, through external growth, as well as through internal growth.”

    Source: Safic-Alcan Press release

    HGE – DCG / 22.01.2015

    STOCKMEIER merges two Firms in Belgium

    German Distributor STOCKMEIER forms Stockmeier Belux SA/NV after acquiring Quaron Belgium

    Privately held chemicals distributor STOCKMEIER Group (Bielefeld, Germany) has merged its subsidiary Contichim International with Quaron Belgium to form STOCKMEIER Chemicals Belux SA/NV effective 01. January 2015.

    Stockmeier had acquired 100% of the shares in Quaron Belgium last year, retroactively effective 01. January 2014. Headquartered in Limal-Wavre, the merged company also has sales office in Ghent.

    Source: Stockmeier press release

    HGE – DCG / 21.01.2015

    ECHA REACH Roadmap 2018

    ECHA publishes “REACH 2018 Roadmap”

    ECHA, the European Chemicals Agency (Helsinki, Finland) has last week published its ‘REACH 2018 Roadmap’. The document outlines the milestones planned in the run-up towards the final REACH registration deadline on 31. May 2018 for substances made or imported in the 1 to 100 tonnes per annum volume bracket.
    In this report, ECHA is encouraging companies, often SMEs who have so far not been affected by REACH, to start preparing now, in order to meet the deadline in 2018. The suggested action plan breaks down the required registration process into seven phases, including the relevant milestones and an estimated time-frame for completion of each of them.
    The roadmap was drawn up in consultation with stakeholders and ECHA plans to keep monitoring progress, in order to be able reacting in time, should obstacles for registration emerge. The full report can be downloaded from the ECHA website via the hyperlink
    http://echa.europa.eu/documents/10162/13552/reach_roadmap_2018_web_final_en.pdf
    ECHA’s Executive Director Geert Dancet is quoted saying: “The REACH 2018 deadline may now seem distant but I really urge companies to start preparing now in order to meet the deadline successfully. All support material will be available in 23 EU languages and together with the national helpdesks and our industry stakeholders, we are committed to supporting the companies.”

    Source: ECHA website

    HGE – DCG / 19.01.2015

    Brenntag renews CEO’s Contract

    Brenntag extends Contract of CEO Steven Holland until February 2020

    The Supervisory Board of global chemical distributor Brenntag AG (Mülheim an der Ruhr, Germany), has recently renewed the contract of current CEO Steven Holland for another five years, until 29. February 2020.

    Brenntag said that all areas of responsibilities within the Management Board remain unchanged.
    Holland, who was appointed CEO of Brenntag AG in June 2011, originally joined the group from UK chemical distributor Albion Chemicals, when it was acquired by Brenntag back in May 2006.
    Source: Brenntag press release

    HGE – DCG / 20.01.2015

    DistriConsult comment: Brenntag is scheduled to publish its annual report for 2014 on 18. March 2015.

    Biesterfeld names Arnold CEO

    Biesterfeld AG names Thomas Arnold Chairman of the Executive Board and CEO

    Polymers and specialty chemicals distributor Biesterfeld AG (Hamburg, Germany) has promoted Thomas Arnold to the position of Chairman of the Executive Board (CEO), effective 01. April 2014.

    Arnold, who had joined Biesterfeld Group in May 2013 as Managing Director of its specialty chemicals distribution arm, Biesterfeld Spezialchemie GmbH, was appointed to the Executive Board in July last year.

    He is following Birger Kuck, who will be retiring at the end of March, after 35 years of service with the group. Kuck had originally joined the company in 1976 as apprentice. From 1988 onward he was Managing Director of Biesterfeld Plastic GmbH. In 2002 he took on overall responsibility for the group, when he was appointed Managing Director of Wilhelm E.H. Biesterfeld GmbH & Co. KG, the holding company at the time. Kuck became Chairman of the Executive Board (CEO) of Biesterfeld AG in 2004.

    Biesterfeld generated net sales of EUR 1’100 mn in 2014, the company said in the statement.

    Source: Biesterfeld press release

    HGE – DCG / 06.01.2015

    Biesterfeld buys out Nordic JV Partner

    Biesterfeld Plastics acquires outstanding Shares in JV Biesterfeld Nordic AB

    Polymers distributor Biesterfeld Plastic GmbH (Hamburg, Germany) has recently purchased the outstanding shares in the Joint Venture Biesterfeld Nordic AB (Malmö, Sweden), from former JV-partner Fred Holmberg & Co AB, bringing its ownership from 50 to 100%,

    As part of this transaction, which came into effect on 01. December 2014, Biesterfeld Plastic also took over the Finnish subsidiary of the company, Biesterfeld Nordic & Co OY, located in Hamina, Finland.

    The JV had initially been established in 2012. No financial details were disclosed on the transaction.

    Source: Biesterfeld website

    HGE – DCG / 05.01.2015

    DistriConsult comment: Biesterfeld’s former JV-partner Fred Holmberg & Co AB was acquired by Brenntag later in December (see separate news item on this website).