Three more buys for IMCD

Global speciality chemicals and ingredients distributor IMCD has made two acquisitions in short order to bolster its position in Latin America and the Caribbean: Andes Chemical and, via its Colombian subsidiary, Siliconas y Químicos. It has also acquired Shanghai Yuanhe Chemicals in China.

Andes is based in Miami and has been active since 1986 in Central America, Colombia, Peru and the Caribbean, mainly in the coatings, adhesives, sealants and elastomers (CASE), construction, cosmetics, personal care, plastics, pharmaceuticals and HI&I industries. It had revenues of $46 million in 2020, with 43 employees and a CASE innovation laboratory in Miami.

“Andes Chemical’s focus on speciality chemicals and strength in a number of IMCD’s core markets was an excellent fit and perfectly complements the presence we have in the region,’ said Marcus Jordan, the company’s Americas president. IMCD had not hitherto been present in Central America or Peru.

The acquisition of Bogotá-based Siliconas y Químicos take place in two tranches, with IMCD acquiring 80% now and the remaining 20% in 2022. The company, which dates back to 2000, had revenue of $9 million in 2020 and brings 25 more employees to IMCD Colombia, which has separately juste named Pilar Castallanos as its managing director.

As its name suggests, Siliconas y Químicos distributes silicones and speciality chemicals, mainly to the personal care, coatings and other speciality industrial markets. Jordan added that this complements IMCD’s activity in pharmaceuticals, food and nutrition in Colombia.

Shanghai Yuanhe distributes coatings, textile and inks for the domestic market. It had sales of €13.2 million in 2020. This adds 20 people and a formulation lab in Shangai to IMCD in China, while expanding the portfolio that is mainly focused on the pharmaceutical, food and nutrition, plastics and personal care industries.