IMCD Acquires European Specialty Chemicals Distributor Velox

Specialty chemicals and food ingredients distributor IMCD NV announced the signing of an agreement to acquire 100% of the shares of Velox GmbH, a group company based in Hamburg, Germany. Velox, which maintains long-term relationships with leading global suppliers in the plastics, composites and other specialty products markets and operates an extensive commercial network across Europe, fits perfectly into IMCD's existing operations. The transaction is subject to legal review. Velox, a European company focused on the plastics, composites, additives, rubber, paints and coatings industries, was founded in 1993. With approximately 225 employees across 18 countries, Velox generated revenues of EUR 155 million and normalized EBITDA of EUR 5.4 million in 2017. IMCD Chief Executive Officer Piet van der Slikke said: "This significant step further strengthens IMCD's position as a distributor of specialty plastics and additives. Our portfolios complement each other very well; we expect to create greater value for both our suppliers and our customers." Velox General Manager Francois Minec added to van der Slikke's remarks: "Joining IMCD will provide Velox with excellent opportunities to implement its strategy as a leading distributor in the plastics and composites industries and to advance further."