IMCD South Africa acquires CPS Oil-Tech

IMCD South Africa, a subsidiary of IMCD N.V., a leading distributor of speciality chemicals and ingredients announced the signing of an agreement to acquire a 100% shares of CPS Chemical Oil-Tech (Pty) Ltd, 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. 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,” commented 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”, said 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.

IMCD, based in Rotterdam, the Netherlands, is a among the largest companies involved in the marketing, sales, and distribution of speciality chemicals and ingredients. Founded in 1995, IMCD presently has more than 3,700 employees in over 50 countries on six continents.