Global specialty chemicals distributor Azelis has agreed to acquire 100% of Milan-based distribuor Ametech, which focuses on specialty chemicals for agrochemical and fertilizer formulations, feed and veterinary, polymerization in emulsion, industrial applications and other markets.

The portfolio of the Italian distributor with 30 employees – all of whom will transfer to the new owner – and operations in France and Spain “fits extremely well with the Azelis strategy and current portfolio,” the Belgian distributor said. The company, which has grown substantially in recent years as a result of product range and regional expansion, supplies mainly small and medium-sized formulators, which account for 30% of the total EMEA market.

The Ametech buy “demonstrates the commitment of funds advised by Apax Partners, the major shareholders in Azelis, to support its global growth in the speciality chemicals segment,” the private equity investor said. Paired with the acquisition of US-based Koda Distribution Group in December 2015, Apax said it is confident that the expanded range of services and global reach will bring”significant benefits” to customers of the combined operations.

Azelis CEO Hans Joachim Müller commented that the acquisition of Ametech will allow his company to expand into a high performing sub-sector within the agricultural industry, a key market in which it has had limited presence up to now.

Ametech managing director, Ambrogio Erba, said further growth through product and territory expansion will strengthen the company’s pipeline. Becoming part of Azelis will enable the distributor to focus more on development and innovation and expand its know-how into new territories, he said. Erba will take the position of Market Segment Director for Speciality Agri/Horti business at Azelis.