IMCD announces the acquisition of Andes Chemical Corp. (“Andes Chemical”). This acquisition marks IMCD’s debut in Central America and Peru, expanding its presence in Latin America and throughout the Caribbean.
New Opportunities for Development
Andes Chemical has been a distribution partner to one of the leading specialty chemical manufacturers since 1986, and in 2020, generated a revenue of USD 46 million. Headquartered in the Miami metropolitan area, it is active in Caribbean and Central American countries, Colombia, and Peru. Andes Chemical serves the coatings, adhesives, sealants, and elastomers (CASE), construction, cosmetics, personal care, plastics, pharmaceuticals, and HI&I industries.
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Andes Chemical further strengthens IMCD’s presence in the Americas region and opens exciting opportunities for development in countries new to our business,” said Marcus Jordan, Americas President, IMCD.
Andes Chemical’s focus on specialty chemicals and strength in a number of IMCD’s core markets was an excellent fit and perfectly complements the presence IMCD have in the region.
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IMCD has displayed impressive growth over the past 25 years, so joining the company to further progress its storyline together is an exciting opportunity for us and our partners,” said Fernando J. Espinosa, Jr., president, Andes Chemical. “
We are ready to accelerate the growth potential with IMCD in the region and are confident that the enhanced commercial capabilities and global network of formulatory specialists will add great value to both our supplier partners and customers.”
The acquisition of Andes Chemical adds 43 employees to IMCD’s Americas team, plus a CASE innovation laboratory located in Miami which provides product and formulatory support.
Source: IMCD