Skip to content

Industry News

Advent International’s GTM Acquires High Chem Specialties

21 September 2016

(Press Release) GTM, a Latin American chemical distributor and portfolio company of Advent International, announced the acquisition of Mexican distributor of specialty chemicals, High Chem Specialties México.

Mexico City, Mexico. (September, 21, 2016). GTM Holdings, SA (GTM), the second-largest chemical distributor in Latin America, today announced that it has received approval from the Federal Commission of Economic Competition (COFECE) of Mexico to complete the acquisition of the Mexican distributor of specialty chemicals, High Chem Specialties México, S.A. de C.V.

High Chem Specialties was founded in 2002, and today, is one of the most recognized distribution companies focused on the specialty chemicals industry in Mexico. In 2015, the company generated sales of approximately US$40 million. This acquisition will enhance GTM’s service capabilities in Mexico and the rest of Latin America and is aligned with the company’s strategy to offer a robust line of products and services to its customers.

Advent International, a leading global private equity investor with a strong presence in Latin America, is the controlling shareholder of GTM and is providing equity financing to support GTM’s acquisition of High Chem Specialties.

High Chem Specialties and GTM México –an affiliate of GTM in the country – will now begin to integrate operations. During the transition, which will span several months and won’t affect customer or supplier relationships, each company will continue to operate under its current legal name and continue with normal business operations.

“The acquisition of High Chem Specialties supports our vision of creating a leading regional platform for GTM’s integrated services in the Americas”, said Michael van Marle, Chairman and CEO of GTM. “The strengths of both organizations will translate into synergies as well as a more robust and complete offering of products, value added services and innovative solutions for customers in Mexico and in other markets where GTM is present.”

“The legacy created by High Chem Specialties over the past 20 years in Mexico will continue to grow as we are now able to leverage GTM’s global experience in the chemical industry. GTM will provide a platform that will allow us to focus on the success of our customers, create growth opportunities for our suppliers and employees and implement our expansion plans into other regions and industrial sub-sectors,” said Eduardo Salinas, President and Director General of High Chem Specialities. Mr. Salinas will now be Vice President of Specialties and Business Development of GTM.