30 CHEMICAL DISTRIBUTION
BUYING POWER ACQUISITIONS • IMCD HAD A RECORD YEAR IN 2021, AS A RESULT NOT LEAST OF ITS AGGRESSIVE EXPANSION POLICY. THAT EXPANSION HAS CONTINUED IN 2022 WITH THREE DEALS ALREADY DONE IMCD HAS REPORTED full-year revenues of €3.44bn for 2021, up 24 per cent on the 2020 figure, with gross profit ahead by 29 per cent at €836m and net profit up 73 per cent at €207m. “I am pleased to report a year of record growth: operating EBITA increased by 54 per cent and cash earnings per share by 53 per cent,” says CEO Piet van der Slikke. “In 2021, all our regions and business segments showed strong growth, both organically and as the result of strategic acquisitions. I want to specifically mention the strengthening of our business in Mexico,
CONTINUED EXPANSION THROUGH ACQUISITION IS HELPING BOOST IMCD’S SALES AND PROFIT GROWTH
Central America, China and Indonesia, that position us well to serve our customers and suppliers in these attractive markets,” van der Slikke adds. “Our teams have worked tirelessly to maintain supply to our customers, overcoming challenges that persisted in 2021. The economic environment is still favourable for us and we are quite optimistic about further growth for our Group.” That further growth will be delivered at least in part through continued expansion via acquisitions. Already this year IMCD has concluded three deals in different parts of the world. In Europe, IMCD has agreed to acquire Polychem Handelsgesellschaft, a leading provider of chemical raw materials and additives in Austria and south-east Europe. “The acquisition of POLYchem provides us an excellent platform to better serve customers and partners throughout southeast Europe,” says Johann Milchram, managing director of IMCD Southeast Europe. “Besides broadening our global network of technical centres by establishing the first laboratory in this region, it provides us the opportunity for further regional development in SEE emerging markets.”
“The coatings and construction industry in south-east Europe shows an increasing demand for more performance-driven sustainable solutions and formulations. This acquisition of POLYchem strengthens IMCD’s position to realise these opportunities for our local customers and global partners,” adds Frank Schneider, business group director, IMCD Coatings & Construction. AMERICAS ACTIVITY Meanwhile, IMCD has expanded its Latin American operations with the acquisition of Quelaris Internacional, a regional distributor of raw materials with offices in Colombia, Costa Rica and Peru. “Following IMCD’s acquisition of Andes Chemical nine months ago, the Quelaris acquisition further enhances IMCD’s presence and offering in North LATAM,” says Marcus Jordan, Americas President, IMCD. “The addition of Quelaris further reinforces our approach of creating growth opportunities for our supply and customer partners, and we are delighted to embark on this new adventure with the Quelaris team.” Quelaris, which recorded 2021 revenues of some $52m, was founded in 1993 and operates in 14 countries in the region, with a strong presence in the polyurethane, coatings, adhesives and rubber sectors. The transaction is expected to close this month. Further south, IMCD Brasil has agreed to acquire Polyorganic Tecologia, a São Paulo-based distributor of household, industrial and institutional (HI&I) chemical products established in 1993. It is also involved in the water treatment and other industrial sectors and last year generated revenues of some €12m. “Polyorganic’s technical capabilities, market expertise and strong product portfolio are an excellent fit with IMCD and complements our growing presence in the HI&I market,” says Nicolas Kaufmann, managing director of IMCD Brasil. “The addition of Polyorganic to IMCD Brasil will allow us to accelerate growth, plus offer more solutions to help manufacturers keep up with market trends and demand.” www.imcdgroup.com
HCB MONTHLY | MARCH 2022
