The acquisition will allow IMCD to strengthen its portfolio of advanced materials for coatings and construction in Singapore and Vietnam.
IMCD N.V. has recently announced that it has signed an agreement to acquire 100% of the shares of the Brylchem Group, a distributor of specialty chemicals and ingredients in Vietnam and Singapore. The acquisition includes Brylchem Pte Ltd and the businesses of Chemipac Pte Ltd. and CMS Marketing Trading Co. Ltd. The closing of the transaction is expected to take place in the fourth quarter of 2023.
The Brylchem Group was founded in Singapore in 1992 and offers a wide range of lubricants and advanced materials for the coatings, construction and industrial cleaning industries. The acquisition will allow IMCD to expand its portfolio in the region, supported by the technical and commercial know-how of the fifty employees of the Group – which generated a revenue of approximately SGD 85 million (ca. €58 million) in 2022.
“Brylchem Group provides IMCD with an excellent gain in foothold, given their strong presence in the highly dynamic and vibrant Singaporean and Vietnamese markets. This is a momentous milestone with it being the first acquisition for Vietnam and a vital opportunity for our business expansion into new markets for both countries,” has stated Daan Roebbers, the regional director of expansion, strategy and digitalisation of IMCD APAC.
“My team and I built up the company over the last 31 years with lots of passion and excitement, and finally, I found the right partner to continue the legacy and lead my team to the next level,” has also added Tan Seng Kung, the founder and managing director of the Brylchem Group.