European Distributor with a Focus on Specialty Chemicals
With an extensive commercial network across Europe and its long-standing relationships with global suppliers in the plastics, composites and other specialties markets, Velox is an excellent fit with IMCD’s existing operations. The transaction is subject to regulatory review.
Velox was established in 1993 and is a European distributor with a focus on specialties for the plastics, composites, additives, rubber, paints and coatings industries. With approximately 225 employees in18 countries Velox generated EUR 155 million revenue and a normalized EBITDA of EUR 5.4 million in 2017.
Acquisition to Further Strengthen IMCD’s Business
Piet van der Slikke, CEO of IMCD, commented: “This acquisition enables IMCD to further strengthen its position as distributor of specialty 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.”
The acquisition will be paid from available cash and existing bank facilities.
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