Tag Archives: MEAF

IMCD to acquire Indian Pharma Excipients Distributor Signet

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Further Pharma Growth for IMCD in Asia-Pacific and Middle East, Africa

Specialty chemicals and food ingredients distributor IMCD N.V. (Rotterdam, The Netherlands) announced yesterday that it will acquire 100% of Signet Excipients Private Limited [“Signet”] (Mumbai, Maharashtra – India), one of the leading distributors of excipients in India, in a two-phase transaction. IMCD will now acquire 70% of the share capital from the founders, and the remaining 30% by 2024. Harish Shah, Founder and Managing Director oft Signet, will continue to lead the company post completion of the first phase.

Since its foundation in 1986, Signet grew from a small distribution company to one of the leading distributors of excipients in India, the anouncement said. The company focusses on the distribution of Pharmaceutical, Nutraceutical and Bio-pharma Excipients across a range of categories such as Diluents, Fillers, Sweeteners, Disintegrants, Binders, Surfactants and others. Besides sales in India, Signet is also active in Bangladesh, the Middle East and Africa,  currently serving more than 900 customers, with more than 400 products from leading excipient producers. With approximately 100 employees, Signet generated revenue of ca. EUR 152 mn (INR 13.2 bn) in the last twelve months (up to and including June 2020), and realised a normalised EBITA of ca. EUR 39 million (INR 3.4 bn).

IMCD said it considers Signet to be well aligned with the IMCD business model and strategy, providing a significant platform for further growth in India and the Asia-Pacific region, giving the transaction a strong strategic rationale.

Closing of the transaction is subject to customary closing conditions and regulatory approval. It is expected to take place in Q4-2020. No financial details were disclosed on this transaction.

Source: IMCD press release

DistriConsult comment: In a separate anouncement today IMCD said, to finance the purchase of the first tranche of 70% of the shares of Signet, it has successfully raised ca. EUR 400 mn through an accelerated bookbuild offering of new shares. Any surplus will be used for “general corporate purposes”.

HGE – DCG / 16.09.2020

IMCD opens new Office in Dubai and names Managing Director for Middle East

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IMCD promotes Manuael Baumann to new Role with Remit to develop Middle East Region

International speciality chemicals and food ingredients distributor IMCD N.V. (Rotterdam, The Netherland), recently announced it has opened a new location in Dubai to increase its footprint in the region, establishing IMCD Middle East FZCo as a new legal entity. IMCD first entered the Middle East region by opening an office in Cairo, Egypt in 2018. From the new office, IMCD will now be coordinating operations in the Gulf region, extending services to Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, and Oman as well as Jordan.

In a related move, which was already effective 01. March 2020, Manuel Baumann has been appointed Managing Director for IMCD Middle East. In his role, Manuel will be responsible for driving the expansion of all IMCD business groups in the Middle East, developing and executing growth strategies with principals and customers. Based at the newly established IMCD office in Dubai, United Arab Emirates, he will be reporting to Frank Schneider, Business Group Director Coatings & Construction and Executive Committee Member of IMCD.

 

Bauman, a German national with a bachelor’s degree in engineering,  joined IMCD in 2018 as the Global Director Construction for the Business Group Coatings & Construction. He brings along more than 10 years of eperience in the chemical industry and in-depth knowledge of the Middle East, India and South East Asia.

 

Source:  IMCD press release(s)

 

HGE / DCG – 08.05.2020