Posted On: September 1, 2017
IMCD Completes Acquisition of L.V. Lomas
ROTTERDAM, The Netherlands (1 September 2017, 7:00 CET) – IMCD N.V. (“IMCD” or “Company”), a leading distributor of specialty chemicals and food ingredients, today announces that effectively 31 August 2017, it has successfully completed the acquisition of 100% of the Canadian and US specialty and ingredients distributor L.V. Lomas. The agreement on the acquisition of L.V. Lomas was announced by IMCD in its press release of 4 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, L.V. 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 L.V. Lomas generated revenue of C$383 million and realized a normalized 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 L.V. Lomas has an excellent fit with IMCD's business model and strategy and immediately provides IMCD with a significant presence in Canada and a further enhanced position in the US.
This press release contains inside information as meant in clause 7 of the Market Abuse Regulation.