IMCD China acquires Aquatech
Since its establishment in 2004, Aquatech has been active in water-borne solutions in coatings, ink, and textile industries. Aquatech generated a revenue of approximately RMB 51 million (ca. EUR 6.7 million) in 2020 and adds 10 employees to the IMCD China team. Aquatech’s coatings business enhances the future focused portfolio of IMCD Coatings & Construction Business Group in China.
Closing will be in November
“Aquatech’s philosophy of value creation matches perfectly with IMCD’s strategy to become a strong partner for our customers and suppliers for sustainable coatings solutions in China” commented Andreas Igerl, Managing Director of IMCD China. “With IMCD’s global connection and technical expertise, plus our local presence and capability, I am confident that we will provide more added value to our customers and partners to drive sustainability in the coatings industry,” added Peter Shek, owner of Aquatech.
The closing of the transaction is expected to take place in November.