Rho (MI), Italy – September 4th, 2023 – Eigenmann & Veronelli S.p.A., a leading distributor in the specialty chemicals and food ingredients industry, today announced that it has acquired 100% of IMEA Technologies FZC, a regional distribution company of specialty chemicals with a focus on the industrial market, based in the United Arab Emirates.
The acquisition represents an excellent fit with EV’s existing operations and a strategic commercial expansion in the Middle East and Africa region, in addition to the Far East and Indian markets, reinforcing its international footprint to consolidate its compelling portfolio and execute its growth strategy.
IMEA Technologies was founded in 2011, in Sharjah (U.A.E.), and offers a wide range of products, mainly industrial, such as emulsion polymers for industries, paints, plastic, inks, water treatment, sealants & adhesives, oil & gas, and construction, as well as cosmetic & cleaning applications.
Headquartered in Sharjah, with offices & warehouses in U.A.E., the Company ensures the full coverage of the MEA region in addition to the Far East and Indian markets. In 2022, IMEA Technologies generated revenues of approximately AED 68.5M (ca. EUR 17.7 million).
IMEA Technologies, as part of the EV Group, will be led by its present management line-up and staff retaining its well-established name.
Gabriele Bonomi, Chief Executive Officer of the EV Group, comments:
“In line with our strategic vision to be an established international solutions provider, we are delighted to welcome IMEA Technologies to the EV Group. 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, adds:
“Becoming part of E&V, a key international market player, marks a milestone in our company’s evolution. We share a similar vision and culture, and I am confident that IMEA Technologies will continue to thrive as part of the EV Group, continuing its long-term relationships with key suppliers and customers.”
