Safic-Alcan acquires a Majority Stake in US-based Distributor ChemSpec Ltd.
Specialty chemicals distributor Safic-Alcan SA (Paris, France) last week announced that it will acquire a majority stake in distributor ChemSpec, Ltd. (Akron, OH – United States).
ChemSpec, Ltd. was founded in 2003 by Dave Moreland. The company focusses on the Rubber and the Adhesives industry. Its sales forecast for 2015 is expected to exceed US$ 41 mn (up from US$ 36 mn last year).
Safic-Alcan said the acquisition allows it to control 75% of ChemSpec, Ltd. Dave Moreland will remain in place in the future organization as President and minority shareholder,.
“This transaction is in line with the strategic vision of the Group to expand geographically in North America while developing business on its own without any restriction”, Martial Lecat, CEO of Safic-Alcan is quoted saying.
Source: Safic-Alcan press release
HGE – DCG / 04.08.2015