Caldic and GTM: significant new global force in specialty chemicals and ingredients distribution and value add solutions

Press release

Rotterdam, March 7, 2022 – On March 1, the sale of Caldic BV (Caldic) by funds managed by Goldman Sachs Asset Management closed. Under the new ownership of Advent International (Advent), the consolidation of Caldic and GTM - a portfolio company owned by Advent - will commence, creating a significant new force that positions itself in the top three global players in specialty ingredients and chemicals. The merged company creates an excellent platform for global growth and future investments in employees, technology and locations. 

On November 22, 2021, it was announced that a conditional agreement to sell Caldic to Advent had been reached. The sale closed on March 1, following the receipt of relevant regulatory approvals. 

Alexander Wessels, who has been appointed CEO of the merged company, stated, “We are thrilled that the integration will create opportunities to capitalize on best practices across the regions and cross-fertilize on principals and portfolio, fueling new business growth potential. The merged company creates a compelling business of global scale and makes Caldic well positioned for further growth. The strong foothold in Latin America will enhance our ability to provide customers with innovative and sustainable solutions, reinforcing our motto ‘Because we care’.” 

“We are very excited to embark on our joint journey as part of Caldic”, said Rodrigo Gutierrez, who will lead the Latin America region for Caldic and report to Alexander Wessels. “Our customers are increasingly demanding customized solutions and extended supply chain services. With Caldic’s value add product portfolio and broader manufacturing and distribution capabilities we will be able to deliver a positive impact in life science and industrial markets. Latin America is a high growth region with tremendous opportunities and the joint expertise will allow us to help our current and new customers to seize such opportunities.” 

Caldic’s product portfolio includes innovative food ingredients, specialty chemicals and functional solutions for a variety of life sciences and industrial end markets. With a leading presence in Europe, North America and Asia Pacific, its strengths lie in its global network combined with local expertise, providing flexibility to meet customer specific requirements, through customized formulation support and dedicated manufacturing capabilities. 

Over its 35-year history, GTM has grown to become one of only two chemical distribution companies with a fully Latin-American footprint. In April 2017, GTM acquired quantiQ in Brazil, consolidating its position as a leading specialty chemical distributor in the region. The company has experienced strong growth in recent years as a provider of value-added solutions and highly customized specialty products in Home and Personal Care, Fragrances, Rubber, Coatings and Adhesives and Lubricants.  

Under Advent’s ownership, the merged company will utilize the Caldic brand and will have the opportunity to accelerate its growth, both organically as well as through acquisitions. Ronald Ayles, Managing Partner and Global Head of Chemicals at Advent added, “The Advent team is looking forward to working with Caldic on its journey to becoming a truly global market leader in value add specialty chemicals and ingredients for life science and industrial markets.”