IMCD to acquire Needfill
IMCD has signed an agreement to acquire 100% of the shares of the speciality distribution company Needfill in South Korea.
Established in 1991, Needfill has long-standing partnerships with some of the leading global suppliers and serves the paint, coatings, inks, textiles, electronics, and polymer markets. Needfill, based in Seoul, generated a revenue of approximately EUR 18 million in 2022 and has 18 employees. The closing of the transaction is subject to customary closing conditions and is expected to take place in the fourth quarter of 2023.
Exciting growth potential
“As we look ahead, the coatings market in South Korea has an exciting growth potential. Having Needfill join us provides a strong addition to our coatings and construction business, enhancing our range of services and portfolio,” said Henri Kwon, Managing Director of IMCD Korea. “We are confident that Needfill’s dedicated team will support our business expansion, reinforcing our presence in the Korean market,” concluded Kwon.
Event tip
The new Pacific Coatings Show will bring together the whole supply chain in the Asia-Pacific region on October 18-20 in Jakarta, Indonesia. The show and conference will provide ample opportunity to network, make and nurture business contacts and benefit from exclusive coatings technology information updates.
