IMCD N.V. (AMS: IMCD), a leading distributor of specialty chemicals and ingredients, has agreed to acquire 100% of Brampton, Ontario based L.V. Lomas. Financial terms were not disclosed. The closing of the transaction is expected at the end of August 2017.
Founded in 1960 by Lloyd V. Lomas, privately held L.V. Lomas is one of North America’s leading distributors of chemicals and ingredients, raw materials and packaging products.
In April 2017, L.V. Lomas sold its logistics division, Lomas Logistics, to Radiant Logistics, Inc. (NYSE MKT: RLGT) for US $7 million.
In 2016, L.V. Lomas generated revenue of CDN $383 million and realised a normalised EBITDA of CDN $18 million with approximately 280 employees.
Piet van der Slikke, CEO of IMCD, commented: “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.”
Rand A. Lomas, Chairman of L.V. Lomas added “IMCD will enhance our ability to provide our customers with a more extensive specialty product portfolio and will further develop our depth of technical expertise and innovation. My family built L.V. 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 specialty chemicals and food and pharmaceutical ingredients.”
Headquartered in Rotterdam, The Netherlands, IMCD had a turnover of €1.715 billion in 2016 and employs over 1,800 professionals in more than 40 countries.
photo credit: IMCD