News Article 2015

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February 12 2015, David R Brown

UK-based private quity firm, Apax Partners looks to buy Azelis from 3i

3i has announced that it has received an offer from funds advised by Apax Partners, a UK-based private equity firm, for its majority stake in the Azelis Group, a leading pan-European speciality chemical distributor. Atlas Holding S.A., the holding company of Azelis Group, has entered into exclusive negotiations with funds advised by Apax Partners.

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The proposed deal, which is subject to antitrust approval, comes around two years after 3i supported a €30m capital increase for Azelis. This followed the appointment of new senior management and a restuctring which oversaw the divestment of its composite business to Velox and its thermoplastic distribution business to Gazechim Plastics - in line with its revised strategy to focus more on specialty chemicals and ingredients.

The workers' councils of relevant Azelis Group companies will, where required, be consulted on the proposed transaction. 3i originally acquired the company for €315m in 2007.

About Apax Partners
Apax Partners is one of the world's leading private equity investment groups. It operates globally and has more than 30 years of investing experience. Apax Partners has advised funds that total over $36;40 billion around the world in companies across four global sectors of Consumer, Healthcare, Services and Tech & Telco. These funds provide longterm equity financing to build and strengthen world-class companies.

About Azelis
Azelis is a leading speciality chemicals distributor providing a diverse range of products and innovative services to more than 20,000 customers across Europe, Canada, Australia, India and China. Key focus industries for the Group include Coatings, Food & Health and Animal Nutrition, Personal Care and Pharma. In 2013 Azelis reported total sales of EUR 944M and employed around 1,100 people.

Source(s): Apax Partners Press Release

Further Information

Visit: http://www.azelis.com