IMCD to Acquire Speciality Chemicals Distributor in US

IMCD NV said that it will acquire 100 percent of LV Lomas, the Canadian and US speciality chemicals and ingredients distributor.

Lomas is an excellent fit with the IMCD business model and immediately provides IMCD with a significant presence in Canada and a further enhanced position in the US, the company said.

The closing of the transaction is expected at the end of August 2017.

Established in 1960 and with activities at six locations in Canada and the US, including offices in Toronto (head office), Montreal and Vancouver, Lomas is one of North Americas leading distributors of specialty chemicals, ingredients and raw materials and is distinguished by its experienced and qualified professionals that provide its customers with advanced technical support and market intelligence.

In 2016, the acquired business of Lomas generated revenue of C$383 million and realised a normalised EBITDA of C$18 million with approximately 280 employees.

With its asset light business model and long-term relationships with leading global chemical and ingredient suppliers, Lomas has an excellent fit with IMCD’s business model and strategy and significantly strengthens IMCD’s position in North America.

“This is an important step in the further development of IMCD’s North America region as it not only expands our geographical presence into Canada in all core markets but also further strengthens our US organisation and coverage,” said Piet van der Slikke, CEO of IMCD.

“IMCD will enhance our ability to provide our customers with a more extensive speciality product portfolio and will further develop our depth of technical expertise and innovation. My family built LV Lomas over several decades into an organization driven by teamwork, innovation and a dedication to excellence in all that we do. This is a vision closely shared by IMCD and together we will become a market leader in North America for the sales, marketing and distribution of speciality chemicals and food and pharmaceutical ingredients,” added Rand Lomas, chairman of LV Lomas.