IMCD to Acquire HORN
The acquisition will be paid from available cash and existing facilities.
IMCD N.V. recently announced that it signed an agreement to acquire 100% of the outstanding shares of E.T. Horn Co. HORN reportedly generated revenue of $276 million in 2017 and has approximately 200 employees.
“HORN is a leading specialty distributor in the U.S. with an excellent reputation,” said Marcus Jordan, president of IMCD Americas. “There is a very good fit between HORN and our current U.S. organization and we are convinced that we can jointly offer exciting opportunities to our staff, suppliers and customers. Our combined businesses are excellently positioned to achieve accelerated growth on a national U.S. basis through our specialist market focused teams.”
“HORN and IMCD have similar strategies and cultures and we look forward to working together to expand our business in the U.S. further,” said Bob Ahn and Jeff Martin, board members of HORN.