IMCD expands Presence in the West of the United States
Specialty chemicals and food ingredients distributor IMCD N.V. (Rotterdam, The Netherlands) announced today that it has signed an Preview Changes (opens in a new window)agreement to acquire 100% of the outstanding shares of E.T. Horn Company [“HORN”] (La Mirada (Los Angeles), CA – United States).
HORN was established in 1961 and is a distributor of specialty chemicals with a focus on Coatings, Construction, Plastics, Personal Care, Food & Nutrition, Animal Nutrition, Nutraceuticals and other specialties. The company is primarily focused on the West and South West regions of the U.S. and has generated revenues of USD 276 mn and a normalised EBITDA of USD 12 mn in 2017. The company has approx. 200 employees.
According to IMCD’s sattement, HORN is an excellent fit with existing U.S. activities and “supports the strategy of offering to its suppliers and customers an organisation with national US coverage and dedicated segment expertise.”
The acquisition, which will be paid from available cash and existing facilities, 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 / 12.06.2018