IMCD to Acquire Chemicals Distributor Horn
Specialty chemicals distributor IMCD NV (Rotterdam, The Netherlands) announced Tuesday (June 12) that it has agreed to acquire U.S. chemicals distributor E.T. Horn Company (La Mirada, California), subject to regulatory approval.
Horn represents major specialty-chemical suppliers in the western and southwestern U.S., specializing in raw materials for coatings among other sectors. The financial terms of the deal were not disclosed.
Horn has about 200 employees, according to the company, and had a normalized EBITDA of $12 million last year. The company plans to continue to expand in the U.S. as part of IMCD.
“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,” said IMCD Americas President Marcus Jordan. “Our combined businesses are excellently positioned to achieve accelerated growth on a national U.S. basis through our specialist market-focused teams."
In addition to coatings, Horn distributes specialty chemicals for construction, plastics, personal care, food and nutrition, animal nutrition and nutraceuticals.