Distributor IMCD has formed a new business group called Industrial Solutions, which will absorb the previous Synthesis group and areas of the other industries it serves. This has been done in response to such global trends as growing demand for products in applications like high-temperature, electronics and batteries, and sustainability, notably in recycling and water treatment.
IMCD has opened its new Mexican headquarters. This covers an area of 810 m2 in a LEED Gold-certified building in the Torre Polanco development in Mexico City. It will be a centralised hub for the company’s digitalisation initiatives, formulation capabilities and business operations.
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.
Distributor IMCD has agreed to acquire Megasetia Agung Kimia, which it said “provides a significant platform for further growth in the life science segments in Indonesia”. This will take place in two tranches, with 70% being bought now and the rest in 2025. Closing is expected in December.
IMCD, which had already made multiple acquisitions across the world, has announced two more in Mexico and a further one in Turkey. The company is the world’s fourth largest distributor of chemicals.
IMCD's Mexican affiliate, which was established in April to address the pharmaceuticals, food, nutrition and personal care industries, has acquired Millikan and Banner Química. Both are based in Mexico City, with combined revenues of $15 million and 60 employees in 2019.
IMCD has agreed to acquire the pharmaceutical business of Peak International Products, a Netherlands-based distributor of APIs in the Benelux, Vietnam, Germany and Israel. The business, which had sales of about €5.8 million in 2019, will be integrated into IMCD’s Pharmaceuticals business group.
Shortly before this, IMCD, the world’s fourth largest chemical distributor, completed the much larger acquisition of a 70% majority stake in Signet Excipients, a major Indian distributor of excipients, as part of its platform for further growth in India and the Asia-Pacific.
Global chemical distributor IMCD has made two further acquisitions to expand its presence in South African distributor Siyeza Fine Chem and VitaQualy of Brazil. Terms were not disclosed in either case.
Johannesburg-based Sizeya was founded in is active in pharmaceutical, veterinary, food and personal care speciality chemical ingredients. It employs 27 people, who will remain with the firm and generated a revenue of €11.7 million in 2019. The deal will close at the end of 2020, subject to customary regulatory review.