IMCD to Acquire YCAM's Life Science Business in South Korea
Deal News | Dec 18, 2024 | Globenewswire
In a strategic move to bolster its market presence in the South Korean personal care and pharmaceutical sectors, IMCD N.V., a prominent global distributor of specialty chemicals and ingredients, has signed an agreement to acquire the life science business of YCAM Corporation. YCAM, founded in 2010 and based in Anyang, South Korea, specializes in distributing specialty ingredients for the cosmetics, personal care, and pharmaceutical industries. It generated revenue of approximately KRW 26 billion (EUR 17 million) in 2023 with a team of 8 employees. The acquisition marks a significant expansion of IMCD’s footprint in the beauty and personal care markets and broadens its life science portfolio. The integration of YCAM’s experienced team and resources is anticipated to enhance IMCD’s operational and commercial capabilities in South Korea. The transaction, subject to customary regulatory conditions, is expected to close by Q2 2025.
Sectors
- Specialty Chemicals
- Personal Care and Cosmetics
- Pharmaceuticals
Geography
- South Korea – The acquisition involves South Korean company YCAM, and the expansion of IMCD's operations in the South Korean market is a central element of the transaction.
- The Netherlands – IMCD is headquartered in Rotterdam, The Netherlands, which provides the global perspective of the acquiring company.
Industry
- Specialty Chemicals – IMCD and YCAM operate in the specialty chemicals industry, particularly focusing on the distribution and formulation of specialty ingredients for various sectors, including personal care and pharmaceuticals.
- Personal Care and Cosmetics – The acquisition focuses on expanding IMCD's presence in the personal care and cosmetics sectors, areas where YCAM has significant expertise and market presence.
- Pharmaceuticals – Part of the acquisition involves YCAM's business in the pharmaceutical industry, which aligns with IMCD's strategy to strengthen its life science portfolio.
Financials
- KRW 26 billion (EUR 17 million) – Revenue generated by YCAM in 2023.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| IMCD N.V. | Acquiring Company | Company | A global leader in the distribution and formulation of specialty chemicals and ingredients. |
| YCAM Corporation | Target Company | Company | A distributor based in South Korea specializing in specialty ingredients for cosmetics, personal care, and pharmaceuticals. |
| Dongjoon Lee | Managing Director of IMCD South Korea | Person | Responsible for overseeing the integration and expansion operations in South Korea. |
| Munkyum Kim | CEO of YCAM | Person | Overseeing the operations of YCAM and expressing confidence in the integration with IMCD. |