IMCD South Africa expands its Lubricants & Energy footprint with the acquisition of CPS Oil-Tech
February 16 2023 - 1:00PM
IMCD South Africa expands its Lubricants & Energy footprint
with the acquisition of CPS Oil-Tech
ROTTERDAM, The Netherlands (16 February 2023) –
IMCD N.V. (“IMCD” or “Company”), a leading distributor of
speciality chemicals and ingredients, today announces that IMCD
South Africa has signed an agreement to acquire 100% of the shares
of CPS Chemical Oil-Tech (Pty) Ltd (“CPS Oil-Tech”), a distributor
of raw materials to the petroleum, additive, grease manufacturing
and other industry related segments.
Established in 1993 and headquartered in Durban, South Africa,
CPS Oil-Tech is an asset-light speciality chemical distributor
mainly serving the lubricants and fuels markets. With 8 employees,
CPS Oil-Tech generated a revenue of approximately ZAR 228 million
(ca. EUR 12 million) in the financial year that ended on February
28, 2022. The company represents leading global suppliers and
serves a large group of customers with an extensive portfolio of
products alongside commercial and technical support.
‘Joining forces with CPS Oil-Tech will enable IMCD South Africa
to offer its customers an increased product offering, through the
valued strategic principals that CPS Oil-Tech, already
represents. Furthermore, the business unit will become
stronger due to the increased expertise and technical knowledge of
its staff supporting our continuous efforts and ambitions to
further expand within the Sub-Saharan Africa region,’ comments Ryan
Harrison, Managing Director IMCD South Africa.
‘We are very pleased to become part of IMCD and the company’s
growth strategy. Our current management and business set up, will
continue to support our valued business partners by introducing new
offerings and services. We look forward to leverage IMCD’s
capabilities and global network and create new business
opportunities’, says Raj Singh, Managing Director of CPS
Oil-Tech.
The closing of the transaction is subject to customary closing
conditions and regulatory approval and is expected to take place in
the second quarter of 2023.
Attached, please find the full press release in pdf format, the
main visual, and the photo caption.
- Photo caption_IMCD South Africa expands its Lubricants &
Energy footprint with the acquisition of CPS Oil-Tech
- Press release_IMCD South Africa expands its Lubricants &
Energy footprint with the acquisition of CPS Oil-Tech
- Main picture_IMCD South Africa expands its Lubricants &
Energy footprint with the acquisition of CPS Oil-Tech
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