December 23 2021, David R Brown
IMCD bolsters its presence in Southeast Europe (SEE) with the acquisition of POLYchem Group
IMCD N.V. ("IMCD"), a leading distributor of speciality chemicals and ingredients, has announced that it has successfully signed an agreement to acquire 100% of the shares of Polychem Handelsges.m.b.H. ("POLYchem"), a leading provider of chemical raw materials and additives in Austria and Southeast Europe (through its subsidiaries in Bulgaria, Romania, Czech Republic, Hungary and Croatia).
The acquisition of POLYchem provides us an excellent platform to better serve customers and partners throughout Southeast Europe (SEE)
Johann Milchram
Managing Director IMCD Southeast Europe
Established in 1978, POLYchem started trading raw materials, machinery, and additives for the GRP industry. Their diverse product offering and expanded coverage across Southeast Europe has made them a distribution partner to leading speciality chemical manufacturers in the region. In 2020, they generated a revenue of approximately EUR 25 million and they will add 65 employees to IMCD's Southeast Europe team.
“The acquisition of POLYchem provides us an excellent platform to better serve customers and partners throughout Southeast Europe (SEE). Besides broadening our global network of technical centres by establishing the first laboratory in this region, it provides us the opportunity for further regional development in SEE emerging markets,” said Johann Milchram, Managing Director IMCD Southeast Europe.
“The coatings and construction industry in Southeast Europe shows an increasing demand for more performance driven sustainable solutions and formulations. This acquisition of POLYchem strengthens IMCD's position to realise these opportunities for our local customers and global partners,” said Frank Schneider Business Group Director, IMCD Coatings & Construction.
With more than 40 years of trading experience in the coatings and construction, as well as in the composite industries, POLYchem has become one of the leading companies in its field in Austria and Southeast Europe. “We are confident that our company's journey as part of IMCD's global network will boost our capabilities to better serve our customers and suppliers.” commented Alfred Fuchs, Owner and Managing Director POLYchem.
The closing of the transaction is subject to customary regulatory review and is expected to take place during the first quarter of 2022.
About IMCD N.V.
IMCD is a market-leader in the sales, marketing, and distribution of speciality chemicals and ingredients. Its result-driven professionals provide market-focused solutions to suppliers and customers across EMEA, Americas and Asia-Pacific, offering a range of comprehensive product portfolios, including innovative formulations that embrace industry trends.
Listed at Euronext, Amsterdam (IMCD), IMCD realised revenues of EUR 2,775 million in 2020 with nearly 3,300 employees in over 50 countries on 6 continents. IMCD's dedicated team of technical and commercial experts work in close partnership to tailor best-in-class solutions and provide value through expertise for around 50,000 customers and a diverse range of world class suppliers.
Source(s): IMCD Press Release
Further Information
Visit: https://www.imcdgroup.com