AAC to sell off Dutch chemical company IMCD

AAC Capital is planning to sell IMCD, the Dutch chemical distributor with $1 billion ($1.4 billion) in revenue, according to Reuters. AAC has hired UBS as an adviser. AAC is the former private equity arm of Dutch bank ABN AMRO.

(Reuters) – AAC Capital, the former private equity arm of Dutch bank ABN AMRO, is looking to sell IMCD, the Rotterdam-based chemical distributor with 1 billion euros ($1.4 billion) in revenue, two people familiar with the matter said on Wednesday.

The Dutch investor has hired UBS as an adviser, and the process is at an early stage, the people added.

The potential deal underscores a pickup in private-equity activity involving chemical sector companies.
A month ago Clayton, Dubilier & Rice took a big stake in Univar NV [UNIV.UL], another Dutch chemical distribution firm owned by CVC [CVC.UL]. And last week investors led by BC Partners [BCPRT.UL] sold down their stake in Germany’s Brenntag (BNRGn.DE), after floating the company in March.

A spokesman for AAC had no immediate comment. Telephone calls to IMCD’s headquarters seeking comment after usual business hours were not answered. ($1=.7219 Euro) (Reporting by Quentin Webb; Editing by Erica Billingham)