By: ICN Bureau
Last updated : February 17, 2024 8:19 am
IMCD can leverage their complementary portfolio and technical capabilities to further develop our footprint in the local markets
IMCD has signed an agreement to acquire the business of the speciality distribution company ResChem Technologies Pty Ltd and ResChem Trust in Australia and New Zealand (ResChem).
Established in 2007, ResChem specialises in resins, additives and pigments for use in inks, coatings, adhesives and construction applications. ResChem represents leading global suppliers which are complementary to IMCD's portfolio. ResChem is headquartered in Sydney, Australia, generated a revenue of approximately AUD 25 million in 2023 with 15 employees and strengthens IMCD's technical expertise with an application laboratory based in Sydney.
"We see steady growth in the coatings industry in Australia and New Zealand with the advancement of innovative and sustainable solutions," remarked Frank Schneider, Global Business Group Director, Coatings & Construction. "With the joining of ResChem, we can leverage their complementary portfolio and technical capabilities to further develop our footprint in the local markets," concluded Schneider.
"This is a wonderful opportunity for our employees to join a leading multinational company and the opportunities for advancement it provides. For our customers and suppliers, we will continue to provide and further improve the high level of service they are used to from ResChem," said Bruce Forder, Managing Director of ResChem Technologies.
The closing of the transaction is subject to customary closing conditions and is expected to take place in the second quarter of 2024.