GTM completes the acquisition of High Chem Specialties, Mexico
September 21 2016, David R BrownTweet
GTM Holdings, SA (GTM), one of the leading chemical distributors in Latin America, has received approval from the Mexican competition authorities (COFECE) to complete the acquisition of High Chem Specialties Mexico, S.A. de C.V., a distributor of specialty chemicals serving the construction, coatings, plastics and adhesives industries, amongst others. Global private equity investor, Advent International is the controlling shareholder of GTM and provided equity to help finance the acquisition.
The acquisition of High Chem Specialties supports our vision of creating a leading regional platform for GTM's integrated services in the AmericasMichael van Marle
Chairman and CEO of GTM
High Chem Specialties was founded in 2002, and today, is one of the most recognized distribution companies focused on the specialty chemicals industry in Mexico. In 2015, the company generated sales of approximately US$40 million. High Chem serves the Mexican market and also exports to Central America and the Caribbean from its four facilities in Mexico City, Guadalajara, Monterrey and Tijuana, and from its warehouses in Veracruz, Merida, Chihuahua and León.
The acquisition enhances GTM's service capabilities in Mexico and the rest of Latin America and is aligned with the company’s strategy to offer a robust line of products and services to its customers.
“The acquisition of High Chem Specialties supports our vision of creating a leading regional platform for GTM's integrated services in the Americas”, said Michael van Marle, Chairman and CEO of GTM. “The strengths of both organizations will translate into synergies as well as a more robust and complete offering of products, value added services and innovative solutions for customers in Mexico and in other markets where GTM is present.”
High Chem Specialties and GTM México, an existing GTM affiliate in the country, are now in the proces of integrating their operations.
GTM was founded in 1983 in Guatemala. Since then, it has grown to become the second-largest distributor of chemical products in Latin America and today emplys around 520 people. GTM has an extensive distribution network and logistical infrastructure with more than 43 facilities in 12 countries throughout Latin America and has service supply offices in the United States, India, and China. All GTM facilities are certified by ISO 9001 and ISO 14001.
Source(s): GTM press Release
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