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
- 20 May 2019 - Safic-Alcan opens a new subsidiary in Greece »...Source: Safic Alcan Press Release
- 13 May 2019 - Krahn Chemie acquires eMBe Products & Service »...Source: Krahn Chemie Group Press Release
- 1 May 2019 - Brenntag expands its value-added services offering in the USA by acquiring Marlin Company »...Source: Brenntag Press Release
- 1 Apr 2019 - Oqema group acquires Italian chemical distributor Elettrochimica Valle Staffora (EVS) »...Source: Oqema Press Release
- 1 Apr 2019 - Sumitomo acquires a majority stake in SACI-CFPA (SACI), a Paris-based cosmetic ingredients distributor »...Source: Sumitomo Press Release
- 1 Apr 2019 - Pietro Carini changes its name to Krahn Italia »...Source: Krahn Chemie Group Press Release
- 29 Mar 2019 - Safic-Alcan acquires Luigi & Felice Castelli and a majority stake in Castelli Food »...Source: Safic Alcan Press Release
- 22 Mar 2019 - Chemlink Specialities Ltd and Addi-Tec Ltd are now part of the HARKE GROUP »...Source: Harke Press Release
- 18 Mar 2019 - Safic-Alcan acquires UK-based specialty chemicals distributor, Langley-Smith & Company »...Source: Safic Alcan Press Release
- 14 Mar 2019 - Brenntag buys a 51% stake in Singapore-based supply chain solutions leader, TEEHAI »...Source: Brenntag Press Release
- 12 Mar 2019 - Azelis strengthens its presence in Canada through the acquisition of Chemroy »...Source: Azelis Press Release
- 4 Mar 2019 - Brenntag acquires regional US specialty chemicals distributor New England Resins & Pigments Corporation »...Source: Brenntag Press Release
- 1 Mar 2019 - Aceto to divest chemical and ingredient distribution assets because of bankruptcy »...Source: Aceto Press release
- 1 Mar 2019 - Univar completes acquisition of Nexeo Solutions and re-launches as Univar Solutions »...Source: Univar Press Release
- 1 Mar 2019 - STOCKMEIER acquires the industrial chemicals division of Spanish distributor, Indukern »...Source: Stockmeier Press release
- 28 Feb 2019 - Azelis buys MK Ingredients & Specialties to strengthen its position in the Indian food segment »...Source: Azelis Press Release
- 8 Feb 2019 - Univar and Nexeo Solutions to divest Nexeo's plastics distribution business to One Rock Capital Partners »...Source: Univar Press Release
- 22 Jan 2019 - Regulatory consulting services Yordas Group expands with the opening of German office »...Source: Yordas Press Release
- 17 Jan 2019 - Azelis acquires Polish flavours distributor Euroconsultant Sp.zoo »...Source: Azelis Press Release
- 16 Jan 2019 - Brenntag strengthens US lubricants business by acquiring the lubricants division of Reeder Distributors, Inc. »...Source: Brenntag Press Release
- 19 Dec 2018 - Brenntag strengthens footprint in the Canadian Life Science markets by acquiring Pachem Distribution »...Source: Brenntag Press Release
- 19 Dec 2018 - Azelis increases its pharma presence in Italy through the acquisition of Deafarma S.r.l. »...Source: Azelis Press Release
- 13 Dec 2018 - Rehau completes acquisition of commodity polymer supplier MB Barter & Trading »...Source: Rehau Group Press Release
- 13 Dec 2018 - HARKE Pharma and Hulshof Protein Technologies joint forces in the sales of beef proteins in Europe »...Source: Harke Group Press Release
- 1 Dec 2018 - Ravago Chemicals acquires global chemical distribution and trading company, KH Chemicals »...Source: Ravago Chemicals Press Rlease