IMCD will improve its presence in the paints, coatings, composites and inks markets.
IMCD N.V. has recently announced that the company has signed an agreement to acquire 100% of the shares of KOI Products Solutions and Engineering Ltd. The closing of the transaction, which is subject to customary closing conditions, is expected to take place in June 2023.
“The acquisition of KOI Products Solutions represents another important step into the expansion of our industrial business in Israel. Their established suppliers and customer base in Advanced Composites and Coatings, their deep understanding of the local market and strong team make them an excellent fit for IMCD. We are very glad to welcome KOI Products Solutions to our company and look forward to working together to deliver even greater value to our customers,” has declared Frank Schneider, a member of the Group Executive Committee of IMCD and director of the Coatings & Construction division.
KOI Products Solutions is an Israeli company serving the paints, coatings, composites and inks sectors founded in 1986 in Petach Tikva. Since then, it has developed long-standing partnerships with international suppliers of specialty products and generated a revenue of more than €8 million ($8.8 million) in financial year 2022.
“KOI Products Solutions is honoured to become part of IMCD in Israel. We are confident that the combination of the experience, know-how, line of products and approach of IMCD with our strong and faithful suppliers, customers and employees will position IMCD & KOI Product Solutions as one of the leaders in our unique market. We are very excited and fully committed to fulfilling our joint vision by delivering a better value to our partners,” have jointly commented Erez Harpaz and Danny Kaplan, Chairman and CEO of KOI Products Solutions.