Caldic and Connell to merge
Caldic, the Netherlands-based distributor of life sciences and speciality chemicals, is to merge with Connell of the US, following an agreement by their respective owners, Advent International and Wilbur-Ellis. This should close in Q1 2023, subject to customary conditions and regulatory approvals. Terms were not disclosed and the companies will remain privately owned.
The combined entity will have over 3,800 employees across 43 countries, with 75 formulation centres and application labs, and sales of about €3 billion/year. The owners said they were “committed to build a leading global platform”, with a strong presence in two high-growth regions: Asia-Pacific, where Connell has been active for 125 years, and Latin America through Caldic’s merger with GTM in March 2022.
“In terms of value creation, this is a huge win for our customers, suppliers, and employees,” said Azita Owlia, who will be CEO of the combined entities in Asia-Pacific. “We will be stronger than ever and able to bring reach and capabilities to the segments we serve, as well as global growth opportunities for our employees.”