The first deal with Andes Chemical marks IMCD’s debut in Central America and Peru, also expanding the group’s business throughout the Caribbean.
Andes Chemical posted revenue of $46 million last year and serves the coatings, adhesives, sealants, elastomers (CASE), construction, cosmetics, personal care, plastics, pharmaceuticals and household, industrial and institutional (HI&I) market segments.
“Andes Chemical’s focus on specialty 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 IMCD Americas’ president Marcus Jordan.
The second deal is with Siliconas y Quimicos, a Colombian distributor of specialty chemicals for the personal care, coatings, silicones and other specialty industrial markets. Jordan said the company’s expertise “perfectly complements our existing pharmaceuticals, food and nutrition business in Colombia.”
This transaction is taking place in two tranches, with IMCD having initially bought 80% of the Colombian distributor, with plans to acquire the remaining 20% in 2022.
Siliconas y Quimicos is based in Bogotá and generated revenue of $9 million in 2020. The company employs 25 staff and operates across Colombia using third-party warehouses.
These latest acquisitions follow the purchase of two specialty distribution companies in Mexico last December – Millikan and Banner Quimica. In April 2020, IMCD established IMCD Mexico to serve the local pharmaceuticals, food, nutrition and personal care industries.
Author: Elaine Burridge, Freelance Journalist
