Mergers & Acquisitions
May 20, 2021
IMCD Acquisition
ROTTERDAM, The Netherlands (May 2021) – IMCD N.V. (“IMCD” or “Company”), a leading distributor of speciality chemicals and ingredients, today announces the acquisition of Andes Chemical Corp. (“Andes Chemical”). This acquisition marks IMCD’s debut in Central America and Peru, expanding its presence in Latin America and throughout the Caribbean.
“Andes Chemical further strengthens IMCD’s presence in the Americas region and opens exciting opportunities for development in countries new to our business,” said Marcus Jordan, Americas President, IMCD. “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. We are delighted to welcome the Andes Chemical team to further enhance IMCD’s Americas footprint and offering.”
Andes Chemical has been a distribution partner to leading speciality chemical manufacturers since 1986, and in 2020, generated a revenue of USD 46 million. Headquartered in the Miami metropolitan area, it is active in Caribbean and Central American countries, Colombia and Peru. Andes Chemical serves the coatings, adhesives, sealants and elastomers (CASE), construction, cosmetics, personal care, plastics, pharmaceuticals and HI&I industries.
“IMCD has displayed impressive growth over the past 25 years, so joining the company to further progress its storyline together is an exciting opportunity for us and our partners,” said Fernando J. Espinosa, Jr., President, Andes Chemical. “We are ready to accelerate the growth potential with IMCD in the region and are confident that the enhanced commercial capabilities and global network of formulatory specialists will add great value to both our supplier partners and customers.”
The acquisition of Andes Chemical adds 43 employees to IMCD’s Americas team, plus a CASE innovation laboratory located in Miami which provides product and formulatory support.
About IMCD N.V.
IMCD is a market-leader in the sales, marketing, and distribution of speciality chemicals and ingredients. Its result-driven professionals provide market-focused solutions to suppliers and customers across EMEA, Americas and Asia-Pacific, offering a range of comprehensive product portfolios, including innovative formulations that embrace industry trends.
Listed at Euronext, Amsterdam (IMCD), IMCD realised revenues of EUR 2,775 million in 2020 with nearly 3,300 employees in over 50 countries on 6 continents. IMCD’s dedicated team of technical and commercial experts work in close partnership to tailor best-in-class solutions and provide value through expertise for around 50,000 customers and a diverse range of world class suppliers.
For further information, please visit www.imcdgroup.com.
About Andes Chemical Corp.
Andes Chemical Corp. is a distributor of specialty chemicals throughout Latin America that provides formulation solutions and logistics, making it a preferred partner for customers and suppliers. Its state-of-the-art distribution and warehouse facility in Miami offers a hands-on approach to an international supply chain with proficiencies in freight consolidation, documentation and export regulatory compliance. Andes Chemical also manages a Customer Innovation Center, where formulation expertise and cross regional knowledge provide cost effective solutions tailored to meet the needs of customers, while serving as a local resource to suppliers. Its Miami headquarters are complemented by offices and distribution centers in Dominican Republic, Costa Rica and Peru, serving as hubs for the Caribbean, Central American, and Andean regions.
For more information, please visit www.andeschem.com.
May 20, 2021
IMCD Acquisition
ROTTERDAM, The Netherlands (May 2021) – IMCD N.V. (“IMCD” or “Company”), a leading distributor of speciality chemicals and ingredients, today announces the acquisition of Andes Chemical Corp. (“Andes Chemical”). This acquisition marks IMCD’s debut in Central America and Peru, expanding its presence in Latin America and throughout the Caribbean.
“Andes Chemical further strengthens IMCD’s presence in the Americas region and opens exciting opportunities for development in countries new to our business,” said Marcus Jordan, Americas President, IMCD. “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. We are delighted to welcome the Andes Chemical team to further enhance IMCD’s Americas footprint and offering.”
Andes Chemical has been a distribution partner to leading speciality chemical manufacturers since 1986, and in 2020, generated a revenue of USD 46 million. Headquartered in the Miami metropolitan area, it is active in Caribbean and Central American countries, Colombia and Peru. Andes Chemical serves the coatings, adhesives, sealants and elastomers (CASE), construction, cosmetics, personal care, plastics, pharmaceuticals and HI&I industries.
“IMCD has displayed impressive growth over the past 25 years, so joining the company to further progress its storyline together is an exciting opportunity for us and our partners,” said Fernando J. Espinosa, Jr., President, Andes Chemical. “We are ready to accelerate the growth potential with IMCD in the region and are confident that the enhanced commercial capabilities and global network of formulatory specialists will add great value to both our supplier partners and customers.”
The acquisition of Andes Chemical adds 43 employees to IMCD’s Americas team, plus a CASE innovation laboratory located in Miami which provides product and formulatory support.
About IMCD N.V.
IMCD is a market-leader in the sales, marketing, and distribution of speciality chemicals and ingredients. Its result-driven professionals provide market-focused solutions to suppliers and customers across EMEA, Americas and Asia-Pacific, offering a range of comprehensive product portfolios, including innovative formulations that embrace industry trends.
Listed at Euronext, Amsterdam (IMCD), IMCD realised revenues of EUR 2,775 million in 2020 with nearly 3,300 employees in over 50 countries on 6 continents. IMCD’s dedicated team of technical and commercial experts work in close partnership to tailor best-in-class solutions and provide value through expertise for around 50,000 customers and a diverse range of world class suppliers.
For further information, please visit www.imcdgroup.com.
About Andes Chemical Corp.
Andes Chemical Corp. is a distributor of specialty chemicals throughout Latin America that provides formulation solutions and logistics, making it a preferred partner for customers and suppliers. Its state-of-the-art distribution and warehouse facility in Miami offers a hands-on approach to an international supply chain with proficiencies in freight consolidation, documentation and export regulatory compliance. Andes Chemical also manages a Customer Innovation Center, where formulation expertise and cross regional knowledge provide cost effective solutions tailored to meet the needs of customers, while serving as a local resource to suppliers. Its Miami headquarters are complemented by offices and distribution centers in Dominican Republic, Costa Rica and Peru, serving as hubs for the Caribbean, Central American, and Andean regions.
For more information, please visit www.andeschem.com.
May 19, 2021
Greiner in Bid for Recticel
Greiner Plans Recticel Bid Valuing Firm at $915 Million
By Aaron Kirchfeld May 14, 2021, 8:37 AM EDT Corrected May 14, 2021, 3:59 PM EDT
Greiner AG, an Austrian plastics maker, is preparing a takeover offer for Recticel SA valuing the Belgian foam company at about 754 million euros ($915 million), a person with knowledge of the matter said.
Greiner is buying Cie. du Bois Sauvage SA’s 27% stake in the company for 13.50 euros per share and plans to offer the same price to other investors, according to the person, who asked not to be identified because the information is private. The Austrian firm is seeking a majority stake in Recticel and aims to keep its listing on the Euronext Brussels exchange, the person said.
It’s seeking to gain acceptances from shareholders holding at least 50% of the company’s voting rights plus one share, according to the person.
Recticel shares have risen 41% in Brussels trading this year, giving the company a market value of 844 million euros. The planned offer represents a 10.7% discount to Recticel’s closing price of 15.12 euros on Thursday, when the shares rallied 14%.
Cie. du Bois Sauvage and Recticel were both halted from trading on Friday, pending statements. Representatives for Greiner, Cie. du Bois Sauvage and Recticel didn’t immediately respond to requests for comment.
Recticel makes foams for everything from construction to bedding and automotive. The company has received takeover interest before. In 2019, the Belgian company rejected an offer from Irish insulation maker Kingspan Group Plc for just two of its units. At the time, it signaled it would be open to considering an offer for the whole company.
Greiner and Recticel have been working together for decades. They formed a joint venture in 1992 called Eurofoam, which makes flexible foams. The Austrian company agreed to buy out the venture last year.
Recticel agreed in March to acquire the thermal PIR insulation board business of Poland’s Gor-Stal Sp. z o.o for 30 million euros including debt. Later that month, it completed its purchase of Conzzeta AG’s FoamPartner unit for an enterprise value of 270 million Swiss francs ($300 million).
May 19, 2021
Greiner in Bid for Recticel
Greiner Plans Recticel Bid Valuing Firm at $915 Million
By Aaron Kirchfeld May 14, 2021, 8:37 AM EDT Corrected May 14, 2021, 3:59 PM EDT
Greiner AG, an Austrian plastics maker, is preparing a takeover offer for Recticel SA valuing the Belgian foam company at about 754 million euros ($915 million), a person with knowledge of the matter said.
Greiner is buying Cie. du Bois Sauvage SA’s 27% stake in the company for 13.50 euros per share and plans to offer the same price to other investors, according to the person, who asked not to be identified because the information is private. The Austrian firm is seeking a majority stake in Recticel and aims to keep its listing on the Euronext Brussels exchange, the person said.
It’s seeking to gain acceptances from shareholders holding at least 50% of the company’s voting rights plus one share, according to the person.
Recticel shares have risen 41% in Brussels trading this year, giving the company a market value of 844 million euros. The planned offer represents a 10.7% discount to Recticel’s closing price of 15.12 euros on Thursday, when the shares rallied 14%.
Cie. du Bois Sauvage and Recticel were both halted from trading on Friday, pending statements. Representatives for Greiner, Cie. du Bois Sauvage and Recticel didn’t immediately respond to requests for comment.
Recticel makes foams for everything from construction to bedding and automotive. The company has received takeover interest before. In 2019, the Belgian company rejected an offer from Irish insulation maker Kingspan Group Plc for just two of its units. At the time, it signaled it would be open to considering an offer for the whole company.
Greiner and Recticel have been working together for decades. They formed a joint venture in 1992 called Eurofoam, which makes flexible foams. The Austrian company agreed to buy out the venture last year.
Recticel agreed in March to acquire the thermal PIR insulation board business of Poland’s Gor-Stal Sp. z o.o for 30 million euros including debt. Later that month, it completed its purchase of Conzzeta AG’s FoamPartner unit for an enterprise value of 270 million Swiss francs ($300 million).
May 13, 2021
Applied Adhesives Acquires Adhezion
Arsenal’s Applied Adhesives Acquires Adhezion MINNETONKA, MN – May 13, 2021 – APPLIED Adhesives, a premier adhesive solutions provider in North America, is pleased to announce the acquisition of Adhezion, a distributor of adhesive products and application equipment focused on the automotive and packaging markets in North America. The transaction brings together two companies with a proven track record of providing technical expertise and exceptional service to its customers. APPLIED Adhesives is a portfolio company of Arsenal Capital Partners.
“Adhezion is an established market leader delivering best-in-class technical expertise and outstanding service to its customers, an approach we embrace at APPLIED Adhesives as well” said John Feriancek, President and Chief Executive Officer of APPLIED Adhesives. “We look forward to bringing our two companies together and building on our shared tradition of being a trusted adhesive solutions partner for our customers.
Adhezion leverages its technical expertise to bring technology-driven solutions and supply agreements with global chemical specialists to the industrial, automotive, and packaged goods markets. Adhezion compliments APPLIED Adhesives customer focus and solution offerings. Jodi Leja, Adhezion President, added, “We have built a culture that prioritizes partnering with our customers to build lasting relationships. APPLIED has built a similar culture and thus we are excited to join APPLIED Adhesives and continue to deliver outstanding service to our customers.”
Adhezion is APPLIED Adhesives first acquisition under Arsenal Capital Partners and its sixth acquisition in the past four years.
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