Leading specialty chemicals and food ingredients distributor Azelis is in exclusive talks to acquire Deafarma, an Italian distributor of APIs.

The Milan-based company also offers a range of services such as searching for new APIs, assistance with regulatory affairs and new pharmaceutical dossier support.

Commenting on the deal, Marco Gerosa, regional managing director Italy at Azelis, said: “There is an excellent strategic fit that supports our further growth in the region, allowing us to provide an improved product offering and customer reach on one side, while making us more attractive to our existing principals on the other. Our aim is to offer our customers in Italy the full pharma range of products.”

The transaction is expected to complete in the first quarter of 2019.

Azelis noted that the acquisition illustrates the support provided by owner EQT since it took over the Belgium-based distributor together with PSP Investments earlier this year. The two funds revealed in June 2018 they were in exclusive negotiations to take over Azelis from private equity owner Apax Partners.