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
- 1 Apr 2018 - Blackstone is preparing to sell leading Australian chemical distributor Ixom in dual-track sale process »...Source: Chemagility Sources
- 28 Mar 2018 - Global polymer distributor Bamberger Polymers Corp. bought by Plastiche SA »...Source: Chemagility/Plastics News Europe
- 27 Mar 2018 - Orkila and Lonza's Capsule Delivery Solutions announce exclusive agency partnership in Egypt »...Source: Orkila Press release
- 6 Mar 2018 - Grupo ADI acquires Spanish chemical manufacturer and distributor, Quaternia »...Source: Grupo ADI Press Release
- 6 Mar 2018 - Azelis strengthens its position in the Moroccan food market with the acquisition of Distralim »...Source: Azelis Press Release
- 23 Feb 2018 - 2M Group continues its growth in Europe with the acquisition of specialty chemicals distributor, FrankenChemie »...Source: 2M Holdings Press Release
- 19 Feb 2018 - Sunil Healthcare appoints HARKE GROUP as exclusive distributor for empty capsules »...Source: HARKE Press Release
- 14 Feb 2018 - Bodo Möller Chemie expands its European network with the formation of UK subsidiary »...Source: Bodo Möller Chemie Press Release
- 1 Feb 2018 - The Krahn Chemie Group extends its European network with the acquisition of Memolex SAS, France »...Source: Krahn Chemie Press Release
- 9 Jan 2018 - LeBaronBrown Industries LLC acquires U.S. life sciences ingredients distributor, American International Chemical, Inc. »...Source: LeBaronBrown Press Release
- 3 Jan 2018 - Safic-Alcan UK acquires Techform Fine Chemicals »...Source: Safic-Alcan Press Release
- 21 Dec 2017 - US Vinmar acquires control of Turkish chemical distributor Veser Kimya »...Source: Vinmar Press Release
- 21 Dec 2017 - Brenntag expands market coverage and service portfolio in Iberia by acquiring Quimitécnica »...Source: Brenntag Press Release
- 21 Dec 2017 - Safic-Alcan acquires the French distributor of pharmaceutical active ingredients, Biochimex »...Source: Safic-Alcan Press Release
- 21 Dec 2017 - Barentz International acquires Soforebo to strengthen animal protein offer in the Balkans region »...Source: Barentz Press Release
- 19 Dec 2017 - Brenntag to acquire Conquimica to extend distribution network in Colombia »...Source: Brenntag Press Release
- 19 Dec 2017 - Specialty chemicals distributor, Bodo Möller Chemie positioned to achieve global growth targets »...Source: Bodo Möller Chemie Press Release
- 18 Dec 2017 - Brenntag expands presence in the Indian chemical distribution market by acquiring Raj Petro Specialities »...Source: Brenntag Press Release
- 8 Dec 2017 - Univar acquires Kemetyl Industrial Chemicals to enhance its position as a leading distributor in the Nordic region »...Source: Univar Press Release
- 24 Nov 2017 - Overlack changes name to OQEMA to reflect European growth ambitions »...Source: CHEManager article
- 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