IMCD Buys Bossco Industries
Dutch specialty chemicals distributor IMCD has purchased Bossco Industries in the US for an undisclosed sum. Located in Houston, Texas, Bossco supplies products and technical solutions to all major industrial market segments in the country’s southwestern region. The company generated revenues of $11 million in 2016.
After the transaction is completed, which is expected in early July 2017, the business will be integrated within IMCD US with Bossco’s president Edward Boss becoming a senior member of the IMCD management team.
John Mastrantoni, president of IMCD US, said the acquisition further strengthens the US business and its ability to offer national coverage to its principal partners.
Last month, IMCD opened its first application laboratory in the country. The facility in Miami, Florida, will service customers and suppliers in the personal care segment, offering advice on market trends as well as problem solving, formulation guidance and product performance testing. “We see this as the first step towards replicating the successful technical center model we have established in other regions,” said Marcus Jordan, president of IMCD US Holdings.
In March, the Rotterdam-based group completed the purchase of the remaining 20% interest in M.F. Cachat, an Ohio-based specialty chemical distributor. The acquisition was executed on the basis of the share purchase agreement made in June 2015 when IMCD bought an 80% stake. M.F. Cachat was renamed IMCD US on Apr. 1, 2016.