Dutch distribution company IMCD has agreed to buy Brazilian pharmaceutical distributor Selectchemie. The portfolio of the Sao Paulo-based company with 43 employees and revenues of $18 million in 2014 includes an extensive range of excipients and active pharmaceutical ingredients (APIs).

Terms of the transaction, which is expected to complete before the end of this year, were not disclosed.

John Robinson, director of IMCD’s pharmaceuticals business group, said Selectchemie is an excellent fit with IMCD’s business in Brazil which is a dynamic market for the generic pharmaceutical industry.

IMCD meanwhile has opened its first lubricants laboratory, in Paris, France. The company said the facility’s main function is to provide a better understanding of formulations and additive synergies and to develop new projects in partnership with customers and suppliers.

Additionally, IMCD shareholder Bain Capital, through its indirect investment fund Emma (BC) Holding, has placed 4 million shares at €33.60 per share with institutional investors in an accelerated book-building process. As a result, Bain Capital has reduced its stake in IMCD to 7.9%, increasing the free float to 92.1%. IMCD launched on the Euronext stock exchange in June 2014.