IMCD to acquire European speciality chemicals distributor Velox
IMCD announced that it signed an agreement to acquire 100% of the outstanding shares of Velox GmbH. The transaction is subject to regulatory review.
Velox was established in 1993 and is a European distributor with a focus on specialities for the plastics, composites, additives, rubber, paints and coatings industries. With approximately 225 employees in18 countries Velox generated EUR 155 million revenue and a normalised EBITDA of EUR 5.4 million in 2017. The acquisition will be paid from available cash and existing bank facilities.
Expansion of distributor activities
Piet van der Slikke, CEO of IMCD, commented: “This acquisition enables IMCD to further strengthen its position as distributor of speciality plastics and additives. Our portfolios very well complement each other, and we expect to be able to create more value for our suppliers and customers.” Francois Minec, General Manager of Velox added: “Joining IMCD will provide Velox with excellent opportunities to further develop and execute its strategy as a leading distributor to the plastics- and composite industries.”
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