IMCD N.V. ("IMCD" or "Company"), a global leading distribution partner, formulator of speciality chemicals and ingredients, and expert solutions provider announced that IMCD has signed an agreement to acquire 100% of the shares of the speciality distribution company Brylchem Pte Ltd and the business of Chemipac Pte Ltd., and CMS Marketing Trading Co., Ltd in Vietnam ("jointly Brylchem Group").
Brylchem Group was founded in Singapore in 1992, offering a wide range of products in the coatings, construction, advanced materials, agrochemical, home care and industrial cleaning, feed and veterinary, and lubricants industries for the Singapore and Vietnam markets. It represents leading global suppliers providing its customers with an extensive portfolio backed by technical and commercial excellence. With approximately 50 employees in Singapore and Vietnam, Brylchem Group generated a revenue of approximately SGD 85 million (ca. EUR 58 million) in 2022.
"Brylchem Group provides IMCD with an excellent gain in foothold, given their strong presence in the highly dynamic and vibrant Singaporean and Vietnamese markets," remarked Daan Roebbers, Regional Director of Expansion, Strategy, and Digitalisation at IMCD APAC. "This is a momentous milestone with it being the first acquisition for Vietnam and a vital opportunity for our business expansion into new markets for both countries."
"My team and I built up the company over the last 31 years with lots of passion and excitement, and finally, I found the right partner to continue the legacy and lead my team to the next level," commented Tan Seng Kung, Founder and Managing Director of Brylchem Group.
The closing of the transaction is expected to take place in the fourth quarter of 2023.