IMCD to acquire Canadian chemicals, ingredients distributor8 Aug 2017
IMCD is to acquire 100% of the Canadian and US specialty chemicals and ingredients distributor L.V. Lomas, providing the company with a significant presence in Canada and a further enhanced position in the US.
IMCD is to acquire 100% of the Canadian and US specialty chemicals and ingredients distributor L.V. Lomas. IMCD says that L.V. Lomas is an excellent fit with its business model and immediately provides the company with a significant presence in Canada and a further enhanced position in the US.Established in 1960 and with activities at six locations in Canada and the US, including offices in Toronto (Head Office), Montreal and Vancouver, L.V. Lomas is a distributor of specialty chemicals, ingredients and raw materials. In 2016, the acquired business of L.V. Lomas generated revenue of C$383 million and realised a normalised EBITDA of C$18 million with approximately 280 employees."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," said Piet van der Slikke, CEO of IMCD."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,” said Rand A. Lomas, Chairman of L.V. Lomas. “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"
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