M&As: Biesterfeld acquires Singapore firm to expand in Asia; Vertellus completes acquisition of IM Chemicals

Germany’s Biesterfeld Group, based in Hamburg, has established a joint venture by acquiring a majority stake in Singapore-based GME Chemicals. The closing was now completed. A complete takeover of the remaining shares will take place in five years, according to the contract. By acquiring a stake in GME Chemicals, one of the leading distributors of specialty chemicals and polymers in Southeast Asia, Biesterfeld says it is continuing its geographic expansion and growth strategy.

GME Chemicals is active in the markets for performance and industrial chemicals, food, pharmaceuticals, elastomers and specialty polymers, and also in developing sustainable solutions for their customers. The company, which was established in 1999 in Singapore, is represented by operating subsidiaries in Malaysia, Indonesia, Vietnam, Thailand and China, and has 60 employees.

Dirk Biesterfeld, Chairman of the Supervisory Board of Biesterfeld AG, explains: "Asia is a significant growth market and of strategic importance to us. Here, too, we want to significantly increase our market presence together with our suppliers. As a family-owned company, reliability, a long-term commitment, and the joint cooperation of all employees are particularly important to us. The GME portfolio is an excellent addition to the Biesterfeld Group and we are gaining highly qualified employees. I look forward to the cooperation and a successful future together."

Philip Chew, Managing Director/shareholder of GME Chemicals, emphasises, "In Biesterfeld, we have not only found a majority shareholder and, in the future, a new owner, but a true partner. We share the same business view and the same values. As shareholders, we will therefore remain in the company with our management team and our employees. I am sure that with our know-how, we can jointly and significantly expand the solution portfolio for customers in Asia and accelerate the growth of our suppliers in our markets. I look forward to our continued journey as part of the Biesterfeld Group."

The parties have agreed not to disclose details of the transaction.

In other news, US-based Vertellus, a manufacturer of specialty products for consumer goods, food & agriculture, healthcare, and industrial markets, has completed its acquisition of IM Chemicals, the intermediates and specialties division of ESIM Chemicals and a provider of specialty chemical products serving the pharmaceutical, coatings, and fuel & lubricant markets.

With the addition of IM Chemicals, Vertellus says it expands its specialty ingredients portfolio into new markets and bolsters its manufacturing capabilities in Europe. The combination strengthens Vertellus’ capability to serve its growing global customer base with market-leading specialty solutions and customer service, it adds.

John Van Hulle, CEO of Vertellus, said, “We are pleased to officially welcome IM Chemicals to the Vertellus family. I am confident that our shared commitment to customer satisfaction and product excellence will drive our growth and strengthen our position as a premier global provider of specialty ingredients and solutions.”

Indianapolis-based Vertellus is owned by Pritzker Private Capital and management.

(PRA)

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