IMCD adds Weight to its European Network with Acquisition in Germany
Specialty chemicals and food ingredients distributor IMCD N.V. (Rotterdam, The Netherlands) announced earlier this week that it signed an agreement to acquire 100% of the outstanding shares of Velox GmbH [“Velox”] (Hamburg, Germany). Velox as a group has an extensive commercial network across Europe and is working with a range of global suppliers.
Velox was established in 1993 by Bernard Goursaud and Max Schlenzig and is today a European distributor with a focus on specialities for the Plastics, Composites, Additives, Rubber and Paints & Coatings industries. In 2017 the group had sales of EUR 155 mn and a normalised EBITDA of EUR 5.4 mn. It employs a staff of approx. 225 people covering 18 countries. IMCD said the product portfolio is largely complementary to the existing product range.
The acquisition, which will be paid from available cash and existing facilities. It is subject to fulfilment of transaction related conditions and the customary regulatory review. No further financial details were disclosed on the transaction.
Source: IMCD press release
HGE – DCG / 31.08.2018