34 CHEMICAL DISTRIBUTION
FORCE THE ISSUE
GOLDMAN SACHS COMPLETED the sale of Caldic BV to Advent International on 1 March, after first announcing the deal in November 2021. Advent has now begun the integration of Caldic with GTM, which it already owned, that will create what Caldic calls “a significant new force that positions itself in the top three global players in specialty ingredients and chemicals”. Under Advent’s ownership, the merged company will use the Caldic brand and will have the opportunity to accelerate its growth, both organically as well as through acquisitions. Ronald Ayles, managing partner and global head of chemicals at Advent, says: “The Advent team is looking forward to
integration will create opportunities to capitalise on best practices across the regions and cross-fertilise on principals and portfolio, fuelling new business growth potential. The merged company creates a compelling business of global scale and makes Caldic well positioned for further growth. The strong foothold in Latin America will enhance our ability to provide customers with innovative and sustainable solutions, reinforcing our motto ‘Because we care’.” SAME BUT DIFFERENT Since it was formed some 35 years ago, GTM has grown to become one of only two chemical distribution companies with a fully
home and personal care, fragrances, rubber, coatings and adhesives, and lubricants sectors. Caldic’s product portfolio includes innovative food ingredients, specialty chemicals and functional solutions for a variety of life sciences and industrial end markets. With a leading presence in Europe, North America and Asia Pacific, the merger with GTM represents the last piece of the jigsaw to a truly global coverage which, combined with local expertise, provides the flexibility to meet customer-specific requirements, through customised formulation support and dedicated manufacturing capabilities. GTM’s Rodrigo Gutierrez, who will lead the Latin America region for the new Caldic, says: “Our customers are increasingly demanding customised solutions and extended supply chain services. With Caldic’s value add product portfolio and broader manufacturing and distribution capabilities we will be able to deliver a positive impact in life science and industrial markets. Latin America is a high growth region with tremendous opportunities
working with Caldic on its journey to becoming a truly global market leader in value add specialty chemicals and ingredients for life science and industrial markets.” Alexander Wessels will continue to lead the new Caldic as CEO from its base in Rotterdam. He says of the deal: “We are thrilled that the
Latin-American footprint. In April 2017, GTM acquired quantiQ in Brazil, consolidating its position as a leading specialty chemical distributor in the region. The company has experienced strong growth in recent years as a provider of value-added solutions and highly customised specialty products, supplying the
and the joint expertise will allow us to help our current and new customers to seize such opportunities.” The merged companies together represent pro forma annual sales of some €1.8bn and a total workforce of around 2,300. www.caldic.com
CONSOLIDATION • THERE IS A NEW FORCE IN THE GLOBAL CHEMICAL DISTRIBUTION SECTOR AS CALDIC AND GTM BECOME ONE. OWNER ADVENT PROMISES MORE GROWTH AND ACQUISITIONS
HCB MONTHLY | APRIL 2022
