July 1 2022, David R Brown
Azelis reinforces market leadership in Africa and the Middle East
Azelis, a leading global innovation service provider in the specialty chemicals and food ingredients industry, has agreed to acquire 100% of the shares of Chemical Partners and Chempart Polymers' entities in Lebanon and Belgium. The company is an independent distributor of specialty chemicals with a strong foothold in the industrial chemicals market in Africa and the Middle East.
We very much look forward to welcoming Chemical Partners to the Azelis family. This acquisition is an important milestone in our strategy to reinforce our market leadership in the regionDr. Hans-Joachim Müller
Chief Executive Officer of Azelis
Chemical Partners represents a strategic acquisition to strengthen Azelis' position in industrial chemicals following the acquisition of Umongo earlier this year, providing the group with a strong portfolio of products and expertise spanning the key end markets in industrial chemicals in the region including CASE and rubber and plastic additives. This also complements Azelis' existing activities in life science markets in the MEA region, optimising the group's portfolio to reach more customers and principals and serve them more efficiently. The acquisition also expands Azelis' geographical footprint, with Chemical Partners present in over 30 countries across the Middle East and Africa, including the Levant and Sub-Saharan Africa, providing further opportunities for growth.
Dr. Hans-Joachim Müller, Azelis Chief Executive Officer, commented: “We very much look forward to welcoming Chemical Partners to the Azelis family. This acquisition is an important milestone in our strategy to reinforce our market leadership in the region. Chemical Partners is a very strong fit to our product portfolio and geographical footprint.”
Ralph Raffoul, Managing Director at Chemical Partners, added: “After growing the business over the last 25 years, we are delighted to take the next step in our journey and join the Azelis team, furthering the growth of Chemical Partners. Azelis' approach to innovation and sustainability, along with their proven customer intimacy, align perfectly with our mission. As part of the team, we aim to expanding our presence in the region, and the value-add it will bring to customers and principals. We look forward to combining our many strengths to bring the best opportunities to the region.”
As part of the transaction, the core management team of Chemical Partners will continue to lead the business and support the integration into Azelis. The transaction is expected to close in the third quarter of 2022, after fulfilment of customary closing conditions.
Azelis is a leading distributor of speciality chemicals and food ingredients present in over 50 countries across the globe with around 3,000 employees. Our knowledgeable teams of industry, market and technical experts are each dedicated to a specific market within Life Sciences and Industrial Chemicals. We offer a lateral value chain of complementary products to more than 51,000 customers, supported by ~2,300 principal relationships, creating a turnover of €2.8 billion (2021). Azelis Group NV is listed on Euronext Brussels under ticker AZE.
Source(s): Azelis Press Release