Brenntag, the global market leader in chemical distribution, entered into an agreement to acquire Conquimica S.A.. The chemical distribution company is headquartered in Medellin, Colombia, and is mainly active in providing industrial and specialty chemicals to the Coatings, Food and Cleaning industries. Conquimica operates four warehouses in the main economic areas of the country.
Germán Torres, CEO Brenntag Latin America: “Conquimica is an attractive investment to extend our geographic coverage and distribution network in Colombia. The company’s broad product portfolio and well-developed infrastructure complements Brenntag’s offerings to customers in important focus industries.”
Anthony Gerace, Brenntag Group’s Managing Director Mergers & Acquisitions: “Conquimica is a strategic fit strengthening Brenntag’s footprint in Colombia. Combining Conquimica’s product portfolio with Brenntag’s existing market reach and expertise will greatly benefit our customers across the Colombian market.”
The business is expected to generate total sales of approximately 48.4 million USD in the financial year 2017. Gross profit 2017 is estimated to amount to around 8.9 million USD with a normalized EBITDA of around 1.6 million USD. The investment totals 13.3 million USD. The agreement is subject to review and approval of local trade commission authorities. Closing of the transaction is expected to occur in the 2nd or 3rd quarter of 2018.
