Clearwater International advises the owners of ICM A/S on its sale to Bunzl plc
Clearwater International has advised the owners of ICM A/S (ICM), the leading Danish value-added distributor of personal protective equipment (PPE), on the sale of the business to Bunzl plc (Bunzl), a listed UK specialist distribution and services group.
ICM offers a comprehensive one-stop-shop for PPE products and delivers value to its customers through deep product knowledge and an excellent logistical setup. The main purpose of the business is to provide its customers with the right equipment to prevent personal injuries due to work-related physical accidents. ICM serves a broad customer portfolio, including customers from sectors such as wind energy, pharma/biotech, shipping and construction as well as independent resellers.
The company’s PPE product portfolio consists of third-party brands as well as the company’sown brand, Blue Star. ICM has been successful in retaining its customers as well as gaining new customers by developing great solutions to ease the sourcing of PPE products for the customers to ensure they meet all safety standards. Today, ICM employs approximately 110 employees and has a turnover of more than €53m (DKK 400m).
Bunzl is a global distribution and services group headquartered in the UK. The group has acquired several companies in the past, including companies operating within PPE in other countries other than Denmark. The Bunzl group has approximately 19,000 employees and an annual turnover of approx. €9.8bn ( £9bn). The group is listed on the London Stock Exchange.
The acquisition is expected to give Bunzl a stronger foothold in the Danish and international market for PPE products, with ICM being a strong add-on to the already established PPE foothold.
For ICM, this is an optimal solution in terms of the increased internationalisation the business is experiencing. Being part of the Bunzl group is expected to provide synergies within sourcing, logistics and sales, as well as securing a local presence in relevant markets through other Bunzl subsidiaries.