IMCD expands on three continents
Distributor IMCD has agreed to acquire Polychem, a Vienna-based supplier of chemical raw materials and additives to speciality chemical manufacturers in Austria and Southeast Europe, notably in coatings and construction. Terms were not disclosed but it is known that Polychem had sales of about €25 million in 2020.
“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 Southeast Europe emerging markets,” said Johann Milchram, managing director of IMCD Southeast Europe. Polychem brings 654 new employees. The deal should close in Q1, subject to regulatory review.
Via its local subsidiary, IMCD has also agreed to acquire RPL Trading in Australia and RPL Trading New Zealand in a deal that should close within January. RPL is active in home care and water treatment and had sales of about €15 million in the fiscal year to June 2021, employing 15 people. “RPL Trading brings an excellent and highly complementary portfolio of suppliers, products, and customers to IMCD,” said Martin Stoemmer, managing director of IMCD Australia & New Zealand. “The focus on the formulation and value-added products, combined with excellent technical expertise, is well aligned with our strategy.”
Earlier, IMCD had acquired 70% of Megasetia Agung Kimia, which claims to be Indonesia’s leading distributor of speciality ingredients into the pharmaceuticals industry. It is also active in the personal care, home care, animal health and industrial markets. IMCD will acquire the rest in 2025. Megasetia employs about 160 people at three laboratories, six offices and six warehouses. Sales were about €60 million in 2020.