GTM agrees to acquire quantiQ in Brazil, creating a leading chemical distribution platform in Latin America
January 10 2017, David R BrownTweet
Braskem, the largest petrochemical company in the Americas, has signed an agreement with GTM do Brasil, a subsidiary of GTM Holdings S.A., through which it undertakes to sell a 100% interest in its subsidiary quantiQ, one of Brazil's largest chemical distributors.
The acquisition of quantiQ cements our presence in Brazil and supports our growth strategy of creating a leading regional platformMichael van Marle
Chairman and CEO of GTM Holdings S.A.
Global private equity investors, Advent International is the controlling shareholder of GTM and is providing equity financing to support the acquisition of quantiQ. The deal is valued at R$550 million, of which R$450 million will be paid at the conclusion of the sale and the remainder in up to 12 months post-close. The transaction is subject to customary closing conditions, including approval by the Brazilian competition authority, Conselho Administrativo de Defesa Econômica (CADE).
This transformative acquisition follows GTM's previous purchases of High Chem Specialties in Mexico and Peruquímicos S.A.C. in Peru. It adds a differentiated and fully developed business line to GTM’s existing chemical distribution businesses in Brazil, creating the largest, independent chemical distribution platform in Latin America. The transaction will further consolidate GTM's leadership position across the Latin American market. Advent International had unsuccessfully tried to buy quantiQ in 2012, when the company was valued at R$1 billion.
“The acquisition of quantiQ cements our presence in Brazil and supports our growth strategy of creating a leading regional platform that offers a robust set of services to our customers across Latin America,” said Michael van Marle, Chairman and CEO of GTM. “Together, GTM and quantiQ provide our customers and suppliers with a new option that integrates the experiences and quality of both companies in a portfolio of innovative products, technologies, services and solutions unique to Latin America.”
Founded in 1991 as Ipiranga Química, quantiQ has a long track record in the chemicals industry and is a well-recognized brand. The company has a complete portfolio in commodities, performance and specialty products, offering value-added services for its 5,000+ clients in 50 different end markets, including cosmetics, pharmaceuticals and nutrition. quantiQ is the leading chemical distributor in Brazil in a fragmented market where the top 10 players have only 30% market share. QuantiQ has four distribution centers and six logistics bases in Brazil and reported sales of R$217 million in the third quarter of 2016, down 6% from the year-ago period. EBITDA was down 64% in the period, to R$8 million.
GTM was founded in 1983 in Guatemala. Together, GTM and quantiQ will operate 62 distribution centers in 12 countries throughout Latin America with operations in Brazil, Mexico, Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama, Colombia, Ecuador, Peru and Argentina and employ nearly 1000 people. GTM also has service supply offices in the United States, India, and China.
Source(s): GTM press Release
Attention Chemical Distributors!
Please send your press releases to: firstname.lastname@example.org
Latest Distributor News
- 8 Dec 2017 - Univar acquires Kemetyl Industrial Chemicals to enhance its position as a leading distributor in the Nordic region »...Source: Univar Press Release
- 22 Nov 2017 - Valtris Specialty Chemicals selects Krahn Chemie as distributor for a number of European countries »...Source: Krahn Chemie Press Release
- 1 Nov 2017 - Safic-Alcan establishes a strategic alliance to supply pharmaceutical ingredients in Turkey »...Source: Safic-Alcan Press Release
- 30 Oct 2017 - Caldic expands in the UK with the acquisition of specialty chemicals distributor, Elastomerics Limited »...Source: Caldic Press Release
- 9 Oct 2017 - Brenntag strengthens chemical distribution in South Africa with the official formation of Brenntag South Africa (Pty) Ltd »...Source: Brenntag Press Release
- 4 Oct 2017 - U.S. polymer distributor, M. Holland to acquire wire & cable distributor T&T Marketing »...Source: M.Holland Press Release
- 25 Sep 2017 - Azelis expands its presence in the Swiss market with the acquisition of Georges Walther AG »...Source: Azelis Press Release
- 22 Sep 2017 - Leading Australasian distributor, Redox buys specialty engineering polymers distributor, P.D. Plastics Pty Ltd »...Source: Redox Press Release
- 21 Sep 2017 - Univar aquires Tagma Brazil to expand its agricultural business in Latin America »...Source: Univar Press Release
- 20 Sep 2017 - Leading U.S. speciality chemicals distributor, Maroon Group acquires New Jersey-based Seidler Chemical »...Source: Maroon Group Press Release
- 19 Sep 2017 - Nordmann, Rassmann completes its European network and and extends its global reach through the acquisition of UK-Based Melrob Group »...Source: Nordmann, Rassmann Press Release
- 18 Sep 2017 - Bodo Möller Chemie opens subsidiaries in the USA and Mexico »...Source: Bodo Möller Chemie Press Release
- 23 Aug 2017 - Japanese Nagase Group acquires U.S. specialty chemicals distributor, Fitz Chem Corporation »...Source: Fitz Chem Press Release
- 11 Aug 2017 - U.S. petrochemical marketer and distributor, The Plaza Group acquires Texas distributor, Conchemco »...Source: The Plaza Group Press Release
- 4 Aug 2017 - IMCD to acquire Canadian specialty chemicals and ingredients distributor L.V. Lomas »...Source: IMCD Press Release
- 28 Jul 2017 - U.S. specialty chemicals distributor Dunleary Inc. has acquired D.N. Lukens Inc. and D&F Distributing Inc. »...Source: Dunleary Press Release
- 25 Jul 2017 - Azelis gains a leading position in Australia and New Zealand with the acquisition of Chemcolour »...Source: Azelis Press Release
- 30 Jun 2017 - Goldman Sachs Group Inc. of the U.S. acquires Dutch-based full-line distributor, Caldic B.V »...Source: Caldic Press Release, Other
- 29 Jun 2017 - IMCD acquires Italian speciality chemical distributor Neuvendis »...Source: IMCD Press Release
- 28 Jun 2017 - Prinova acquires Lycored's United Kingdom and China-based premix manufacturing operations »...Source: Prinova Press release
- 27 Jun 2017 - Brenntag strengthens footprint in Asia Pacific by acquiring Chinese specialty chemicals distributor, Wellstar Group »...Source: Brenntag Press Release
- 23 Jun 2017 - Emeraude International acquire North American PVC resin distributor, Resin Technology »...Source: Resin Technology Press release
- 20 Jun 2017 - Bodo Möller Chemie Group expands in to the Middle East with the opening of an office Israel »...Source: Bodo Möller Chemie Press Release
- 15 Jun 2017 - Azelis acquires LCH A/S to establish a leading position in the Nordic food ingredients market »...Source: Azelis Press Release
- 19 May 2017 - IMCD acquires the speciality chemicals business of Bossco Industries Inc as US expansion continues »...Source: IMCD Press Release