IMCD Buys Italy’s Neuvendis
Dutch specialty chemical distributor IMCD has acquired Neuvendis, based in Milan, Italy. Financial terms of the transaction were not disclosed.
Neuvendis is a leading specialty chemicals distributor, where it sells into the construction, paints & coatings, adhesives, plastics, inks and leather market segments. The company had sales of €26.3 million in 2016 and employs 20 people.
“This acquisition places IMCD in an excellent position for further growth in the speciality chemicals market across Italy and southern Europe,” commented Gabriele Bonomi, managing director of IMCD Italy.
Neuvendis’ managing directors, Francesco Lemucchi and Dario Stefani, added that the acquisition is the next step towards realizing the company’s objectives and creating new opportunities for future development.
IMCD’s purchase of US-based Bossco Industries is expected to close in early July. The Houston-based distributor will be integrated within IMCD US.