Eigenmann & Veronelli S.p.A., a prominent distributor in the specialty chemicals and food ingredients sector, has announced its acquisition of 100% of IMEA Technologies FZC. IMEA Technologies is a regional distribution company specializing in specialty chemicals, primarily serving the industrial market. The company is based in the United Arab Emirates (UAE).

This strategic acquisition aligns well with Eigenmann & Veronelli's existing operations and represents a significant expansion into the Middle East, Africa, the Far East, and Indian markets. It reinforces Eigenmann & Veronelli's international presence, allowing them to strengthen their portfolio and execute their growth strategy.

IMEA Technologies, established in 2011 in Sharjah, UAE, offers a diverse range of industrial products, including emulsion polymers for various industries such as paints, plastics, inks, water treatment, sealants, adhesives, oil and gas, construction, as well as applications in cosmetics and cleaning.

The company, headquartered in Sharjah, has offices and warehouses across the UAE, ensuring comprehensive coverage of the MEA region, as well as extending its reach to the Far East and Indian markets. In 2022, IMEA Technologies generated approximately AED 68.5 million (approximately EUR 17.7 million) in revenue.

Following the acquisition, IMEA Technologies will continue to operate with its existing management and staff, retaining its established name within the Eigenmann & Veronelli Group.

Gabriele Bonomi, Chief Executive Officer of the E&V Group, expressed his enthusiasm for the acquisition, emphasizing its alignment with the company's strategic vision of becoming an established international solutions provider. He stated, "This acquisition strengthens our international footprint and allows us to offer a truly compelling value proposition to both principals and customers."

Ayoob Chekkintakath, Executive Director of IMEA Technologies, added his perspective, noting that becoming part of Eigenmann & Veronelli, a key player in the international market, represents a significant milestone in the company's evolution. He expressed confidence in IMEA Technologies' continued success within the Eigenmann & Veronelli Group, maintaining its valuable relationships with key suppliers and customers.

 

Source: businesswire.com

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