IMCD N.V. has signed an agreement to acquire 100% of the business and the subsidiaries of Quelaris Internacional S.A., a Latin American regional raw material distributor with offices in Colombia, Costa Rica, and Peru. The transaction is expected to close in March 2022.
“Following IMCD’s acquisition of Andes Chemical Corp. nine months ago, the Quelaris acquisition further enhances IMCD’s presence and offering in North LATAM,” said Marcus Jordan, Americas president, IMCD. “The addition of Quelaris further reinforces our approach of creating growth opportunities for our supply and customer partners, and we are delighted to embark on this new adventure with the Quelaris team.”
Generating a revenue of approximately $52 million in 2021, Quelaris was established in 1993, operates in 14 Latin American countries, and adds 46 employees to IMCD. The company reportedly has a strong presence in the polyurethane, coatings, adhesives, rubber, and other industrial markets throughout the region.
“IMCD and Quelaris have harmonized business philosophies towards customer, supplier and employee relations,” according to Paul Vanhauw, CEO of Quelaris. “This quickly built trust between our companies and by joining together, we significantly strengthen our ability to serve our respective industry partners. We are ready to take on new challenges and to become an instrumental part of IMCD’s winning team.”