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IMCD to Acquire Velox

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By: Anthony Locicero

Copy Editor, New York Post, Rodman Media

IMCD N.V. announced that it signed an agreement to acquire 100 percent of the outstanding shares of Velox GmbH, a group of companies with its headquarters in Hamburg, Germany. The transaction is subject to regulatory review.
 
Velox was established in 1993 and is a European distributor with a focus on specialties for the plastics, composites, additives, rubber, paints and coatings industries. With approximately 225 employees in18 countries, Velox generated €155 million in revenue and a normalized EBITDA of €5.4 million in 2017.
 
“This acquisition enables IMCD to further strengthen its position as a distributor of specialty plastics and additives,” said Piet van der Slikke, CEO of IMCD. “Our portfolios very well complement each other, and we expect to be able to create more value for our suppliers and customers.”
 
The acquisition will be paid from available cash and existing bank facilities. 

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