IMCD to Acquire U.S. Specialty Chemicals Distributor E.T. HORN

IMCD announced signing an agreement to acquire 100% of the shares of E.T. Horn. HORN is a perfect fit for IMCD's US operations. In this context, it can support IMCD's strategy to provide its suppliers and customers with national US coverage and specialised segment expertise. IMCD and HORN's acquisition agreement is subject to the fulfilment of conditions related to the transaction and customary regulatory review. HORN, founded in 1961, is a leading specialty chemical distributor in the US, focusing on coatings, construction, plastics, personal care, human nutrition and food, animal nutrition, nutraceuticals and other areas of specialisation. With a head office in La Mirada, California, HORN represents leading suppliers and focuses primarily on the western and southwestern regions of the US. HORN, with approximately 200 employees, achieved normalised EBITDA of USD 12 million and revenue of USD 276 million in 2017. Marcus Jordan, President of IMCD Americas, said: "HORN is a leading distributor with an excellent reputation in the US. There is a very good fit between HORN and our current US organisation and we are convinced that together we can create exciting opportunities. Our employees, suppliers and customers are perfectly positioned to achieve accelerated growth on a US national basis through our combined operations and specialised market-focused teams." Bob Ahn and Jeff Martin, members of HORN's Board of Directors, stated: "HORN and IMCD share similar strategies and cultures. We look forward to working together to further expand our business in the US."