November 21 2022, David R Brown
IMCD to acquire Indian speciality chemical distributor Parkash DyeChem
IMCD N.V. ("IMCD"), a leading global distributor of speciality chemicals and ingredients, has signed an agreement to acquire 100% of the shares of Parkash DyeChem Private Limited ("Parkash DyeChem"), one of India’s leading distributors of speciality chemicals for construction and printing inks.
We are delighted to become a strategic addition to IMCD India, with their strong global presence in speciality chemicals and similar mindset it perfectly synergises with Parkash DyeChemNaresh Arora
Founder of Parkash DyeChem
Established in 1988 and headquartered in Delhi, India, Parkash DyeChem is an asset light speciality chemical distributor serving the coatings and construction segments (construction chemicals, printing inks, paints and coatings) as well as personal care and advanced materials markets. With around 60 employees, Parkash DyeChem generated a revenue of approximately INR 2,5 billion (ca. EUR 30 million) in the financial year that ended on March 31, 2022. The company represents leading global suppliers and serves a large group of customers with an extensive portfolio of products alongside commercial and technical support.
“India is experiencing significant growth opportunities in building structures as well as in printing inks and packaging with an emerging demand for sustainable solutions. Joining forces with Parkash DyeChem, a leader in distribution of speciality chemicals to these industries, will expand IMCD's footprint and help us improve our market position,” said Frank Schneider, Business Group Director IMCD Coatings & Construction.
“We are delighted to become a strategic addition to IMCD India, with their strong global presence in speciality chemicals and similar mindset it perfectly synergises with Parkash DyeChem” said Naresh Arora, Founder of Parkash DyeChem. “The combination of IMCD and Parkash DyeChem is an exciting opportunity to reshape the coatings and construction, personal care and advanced materials industries in a manner that will be beneficial for our customers and global partners,” said Chirag Arora, Director of Parkash DyeChem.
The closing of the transaction is subject to customary closing conditions and is expected to take place in December 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 3,435 million in 2021 with nearly 3,700 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 56,000 customers and a diverse range of world class suppliers.
Source(s): IMCD Press Release