Leading investment firm EQT Partners granted exclusivity to acquire specialty chemical distributor, Azelis
June 19 2018, David R BrownTweet
Azelis has announced that Funds advised by Apax Partners have received a binding offer and have entered into exclusive discussions to sell Azelis to EQT and co-investor PSP Investments. The transaction, which is subject to regulatory approvals is expected to close in the Q4 2018. Financial terms are undisclosed, but it is rumoured that the deal values Azelis at more than EUR 1.7bn. EQT is investing from its EQT VIII fund.
We have been impressed by how Azelis’ management team transformed the business from a predominantly European operator to a leading global platformBert Janssens
Partner at EQT
Azelis is a leading global specialty chemicals and food ingredients distributor with more than 43,000 customers worldwide and sales of around EUR 1.8 billion. Apax Partners were initially considering an IPO listing for Azelis on the Euronext Brussels in the 2nd half of 2018 but the offer from EQT proved a more attractive exit option.
“Azelis holds a leading position in the attractive specialty chemical distribution space,” EQT’s Bert Janssens said. “We have been impressed by how Azelis’ management team transformed the business from a predominantly European operator to a leading global platform.”
Apax acquired the Belgian company from 3i in 2015 to become the company’s fourth private equity owner. 3i backed Azelis in 2007, acquiring the business from Electra Partners Europe, the predecessor to Cognetas. It paid €72m for a 60% stake in a deal which valued the company at €315m. Cognetas backed a €135m secondary buyout in 2004, buying a a stake in the company from Permira, Interbanca and Centrobanca. Permira and Interbanca created Azelis three years prior through the merger of France-based Arnaud, Novorchem from Italy and UK-headquartered Chance & Hunt.
Since the Apax Funds’ investment in Azelis, the company has more than doubled its revenue and has undertaken nine acquisitions to broaden its geographic reach and product offering, the most significant being the 2015 acquisition of Koda Distribution Group whose North American presence was complementary to Azelis’ European and Asian reach.
Dr. Hans-Joachim Müller, CEO of Azelis, said: “I would like to thank Apax for their support, which has enabled Azelis to expand its global footprint in EMEA, Americas and Asia Pacific, delivering sustainable growth and strong results.”
Azelis is a leading global speciality chemicals and food ingredients distributor providing a diverse range of innovative products and services. Dedicated teams serve customers in the following industries: Personal Care, Pharma, Food & Health, Animal Nutrition, Specialty Agri/Horti, Homecare & Industrial Cleaning, CASE (coatings, adhesives, sealants & elastomers), Chemicals, Lubricants & Metal Working Fluids and Rubber & Plastic Additives. The Group has a turnover of around EUR 1.8 billion and employs around 1,800 people located in more than 60 facilities in over 40 countries across the EMEA, Asia Pacific and Americas regions.
Source(s): Azelis Press Release
Attention Chemical Distributors!
Please send your press releases to: firstname.lastname@example.org
Latest Distributor News
- 31 Oct 2018 - VELOX Composites announces strategic distribution partnership with Ashland for Sweden, Norway and Denmark »...Source: VELOX Press Release
- 23 Oct 2018 - Medichem and HARKE GROUP announce collaboration in DACH region »...Source: Harke Group Press Release
- 11 Oct 2018 - Bodo Möller Chemie France strengthens French distribution business with the acquisition of Acanthe »...Source: Bodo Möller Chemie Press Release
- 25 Sep 2018 - Caldic boosts operations in West Coast, USA by acquiring food ingredients distributor, Cooperative Purchasers »...Source: Caldic Press Release
- 19 Sep 2018 - Chemical distributor Univar to buy Nexeo in USD 2 billion transaction »...Source: Univar Press Release
- 13 Sep 2018 - Brenntag strengthens its specialty chemicals platform in Africa by acquiring distributor Desbro Group »...Source: Brenntag Press Release
- 6 Sep 2018 - Indukern has acquired French ingredient company Diffusions Aromatiques SAS »...Source: Indukern Press Release
- 29 Aug 2018 - IMCD to acquire European speciality chemicals distributor Velox »...Source: IMCD Press Release
- 16 Aug 2018 - Brenntag acquires Belgium-based, specialty chemicals distributor Alphamin »...Source: Brenntag Press Release
- 10 Aug 2018 - Azelis strengthens its presence in Ireland through the acquisition of P-K Chemicals Limited »...Source: Azelis Press Release
- 13 Jul 2018 - Caldic completes acquisition of HT Griffin Food Ingredients in Canada »...Source: Caldic Press Release
- 12 Jul 2018 - Leading U.S. specialty chemical & ingredients distributor Charkit acquires assets of ChayseChem, Inc. »...Source: Charkit Press Release
- 3 Jul 2018 - Brenntag strengthens its footprint in Canada by acquiring the chemicals distribution business of Canada Colors and Chemicals »...Source: Brenntag Press Release
- 29 Jun 2018 - Whyte Chemicals, one of the UK's largest remaining privately-owned chemical distributors, has been acquired out of administration by the OQEMA Group »...Source: Chemagility Sources
- 20 Jun 2018 - Swiss Omya Group acquires Romanian chemicals distributor, Stera Chemicals »...Source: Omya Press Release
- 19 Jun 2018 - Leading investment firm EQT Partners granted exclusivity to acquire specialty chemical distributor, Azelis »...Source: Azelis Press Release
- 16 Jun 2018 - Fecc Annual Congress 2018 Review - Towards innovative business models in Chemical Distribution 4.0 »...Source: Chemagility Press Release
- 12 Jun 2018 - IMCD to acquire major U.S. specialty chemicals distributor E.T. Horn Company »...Source: IMCD Press Release
- 17 May 2018 - Azelis strengthens its position in the Nordic food market with the acquisition of Ingredi »...Source: Azelis Press Release
- 17 May 2018 - Leading U.S. specialty chemicals distributor, Maroon Group acquires J Tech Sales »...Source: Maroon Group Press Release
- 14 May 2018 - Azelis expands into South Korea with the acquisition of SammiChem Co »...Source: Azelis Press Release
- 8 May 2018 - Univar to acquire Earthoil, a UK-based supplier of natural oils »...Source: Univar Press Release
- 30 Apr 2018 - Azelis continues to expand in Asia Pacific with the opening of 3 laboratories in India »...Source: Azelis Press Release
- 30 Apr 2018 - Lake invests in business-critical coatings capabilities »...Source: Lake Chemicals and Minerals Press Release
- 16 Apr 2018 - Barentz International establishes a Joint Venture with Tovani Benzaquen Ingredients in Brazil »...Source: Barentz Press Release