24th January 2019

L.V. LOMAS BOUGHT BY DUTCH COMPANY

IMCD N.V., an international distributor of specialty chemicals and ingredients based in Rotterdam, The Netherlands, announced on August 4 that it would acquire 100 percent of the Canadian and US specialty chemicals and ingredients distributor L.V. Lomas. Lomas, IMCD said in a stement, is an excellent fit with the IMCD business model and immediately provides IMCD with
a significant presence in Canada and a further enhanced position in the US.

Established by the late Lloyd Lomas in 1960, and based in Toronto, the Canadian firm is active at six locations in Canada and the US. Until now, it has remained family-owned.

Over time, it has become is one of North America's leading distributors of specialty chemicals, ingredients and raw materials. It claims distinction based on its experienced and qualified professionals that provide its customers with advanced technical support and market intelligence.

In 2016, it generated revenue of C$383-million and realised a normalized EBITDA of C$18-million. It has about 280 employees.

IMCD had sales of 1.715-billion euros in 2016. It has about 1800 staff operating in 40 countries.

IMCD says L.V. Lomas, with its asset-light business model and long-term relationships with leading global chemical and ingredient suppliers, has an excellent fit with the buyer's business model and strategy, and significantly strengthens IMCD’s position in North America.

Piet van der Slikke, CEO of IMCD, commented: “This is an important step in the further development of IMCD’s North America region as it not only expands our geographical presence into Canada in all core markets but also further strengthens our US organisation and coverage.”

Rand A. Lomas, chairman of L.V. Lomas, added: “IMCD will enhance our ability to provide our customers with a more extensive specialty product portfolio and will further develop our depth of technical expertise and innovation. My family built L.V. Lomas over several decades into an organization driven by teamwork, innovation and a dedication to excellence in all that we do. This is a vision closely shared by IMCD and together we will become a market leader in North America for the sales, marketing and distribution of specialty chemicals and food and pharmaceutical ingredients”

The acquisition will be paid from available cash and existing bank facilities. The closing of the transaction is subject to customary regulatory review and is expected at the end of August.

www.imcdgroupcom