Dutch speciality chemicals distributor IMCD (Rotterdam; www.imcdgroup.com) has agreed to acquire Austria’s Polychem (Markt Allhau; www.polychem-group.com) for an undisclosed sum. The transaction is expected to close during the first quarter of 2022, subject to regulatory approval.

Polychem supplies raw materials and additives for the painting and lacquer industry, as well as raw materials, additives and machinery for composite manufacturing, in both Austria and Central Europe. The company, which was established in 1978, has 65 employees and reported a revenue of about EUR 25m in 2020. According to its website, Polychem has subsidiaries in Bulgaria, Croatia, Czech Republic, Hungary and Romania.

“The acquisition of Polychem provides us an excellent platform to better serve customers and partners throughout Southeast Europe (SEE). Besides broadening our global network of technical centres by establishing the first laboratory in this region, it provides us the opportunity for further regional development in SEE emerging markets,” said Johann Milchram, managing director of IMCD Southeast Europe.

Frank Schneider, business group director of IMCD Coatings & Construction, added that the coatings and construction industry in Southeast Europe is seeing increased demand for more performance-driven sustainable solutions and formulations.

In June 2021, IMCD acquired Shanghai Yuanhe Chemicals, a Chinese distributor of speciality coatings, textile and ink solutions (see Plasteurope.com of 17.06.2021).