The two companies are both present in the ingredients and specialty chemicals areas, which means that IMCD will be able to significantly expand its footprint in both the Canadian and US markets.
IMCD acquired the business because it is an “excellent fit” with its own business model, with the benefits and synergies expected to have an immediate positive effect on the company’s bottom line.
Portfolio expansion and greater expertise
The combination of the resources will serve to give the combined customer base of the two businesses greater choice and a higher level of expertise, with the aim of also attracting new business.
“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.
The transaction will be paid for in available cash and banking facilities, with the transaction expected to complete by the end of August 2017.
Lomas in North America
Established in 1960, the Lomas business has six locations in the US and Canada, with a head office in Toronto. In 2016 it had a turnover of C$383 million and employed approximately 280 staff.
“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.
“Together we will become a market leader in North America for the sales, marketing and distribution of specialty chemicals and food and pharmaceutical ingredients”