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IMCD N V, a leading distributor of speciality chemicals and ingredients, today announced that it has successfully signed an agreement to acquire 100% of the shares of Polychem Handelsges.m.b.H., a leading provider of chemical raw materials and additives in Austria and Southeast Europe.
"The acquisition of POLYchem provides us an excellent platform to better serve customers and partners throughout Southeast Europe (SEE). 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,” said Johann Milchram, Managing Director IMCD Southeast Europe.
Established in 1978, POLYchem started trading raw materials, machinery, and additives for the GRP industry. Their diverse product offering and expanded coverage across Southeast Europe has made them a distribution partner to leading speciality chemical manufacturers in the region. In 2020, they generated a revenue of approximately €25M and they add 65 employees to the IMCD Southeast Europe team.
"The coatings and construction industry in Southeast 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,” said Frank Schneider Business Group Director, IMCD Coatings & Construction.
With more than 40 years of trading experience in the coatings and construction, as well as in the composite industries, POLYchem has become one of the leading companies in Austria and Southeast Europe. We are confident that our company’s journey as part of IMCD’s global network will boost our capabilities to better serve our customers and suppliers. Our excellent product knowledge, market know-how, and the relationships we have built with our customers, perfectly align with IMCD business approach,” commented Alfred Fuchs, Owner and Managing Director POLYchem. "With technical experts located in this laboratory in Markt Allhau, Austria, we will also be able to offer customers in-depth local market insight and state-of-the-art application knowledge,” concluded Fuchs.
The closing of the transaction is subject to customary regulatory review and is expected to take place during Q1, 2022.