July 31 2015, David R Brown
Safic-Alcan strengthens its position in the USA with the acquisition of ChemSpec, Ltd
Safic-Alcan, a leading specialty chemicals distributor, has acquired a 75% majority stake in ChemSpec, Ltd., a US distributor focused on rubber and adhesives industries, based in Akron (Ohio, USA). ChemSpec, Ltd. was founded in 2003 by Dave Moreland who will be continuing as President and minority shareholder of the company.
This transaction is in line with the strategic vision of the Group to expand geographically in North America
Martial Lecat
CEO of Safic-Alcan
“This transaction is in line with the strategic vision of the Group to expand geographically in North America while developing business on its own without any restriction”, stated Martial Lecat, CEO of Safic-Alcan.
ChemSpec, Ltd. has a portfolio of 190 active customers. Revenue forecast for 2015 is expected to exceed US$ 41million up from US$ 36 million last year. This further acceleration is based on the continuing development of new products, the lasting relationship with big customers in the USA and the decision of Safic-Alcan to fully use the sourcing capacity of its subsidiaries in China.
“We are extremely pleased with Safic-Alcan's keen interest in ChemSpec, Ltd. and their vision for the North American market. The growth of ChemSpec, Ltd. is the result of our excellent supply base of quality manufacturers and service providers; partnerships with our many customers; and our dedicated employees. ChemSpec, Ltd. and Safic-Alcan hold the same core values in developing business relationships which will continue to serve us extremely well moving forward,” said Dave Moreland.
“ChemSpec, Ltd. will be used to support the development of cosmetics activity in North America due to be launched shortly. Extension of the product range to coatings, plastics and active ingredients for pharmaceuticals is also planned for a later stage”, concluded Martial Lecat.
About Safic-Alcan
Safic-Alcan, a French multinational distributor of specialty chemicals, develops and provides a large range of polymers, materials and additives for the rubber, coatings, pharmaceuticals and cosmetics industries. The Group is present in all major countries of the European Union, as well as in Turkey, and China with on-going strategic development in Eastern European countries. Safic-Alcan posted nearly 403 M€ of revenues in 2014. The company is led by Martial Lecat, Philippe Combette and Jean-Michel Guyon.
Source(s): Safic-Alcan Press Release
Further Information
Visit: http://www.safic-alcan.com