Azelis Acquires Indian Firms
Azelis has agreed to buy Chemo India and Unipharm Laboratories, distributors of specialty chemicals and ingredients for the coatings, adhesives, sealants & elastomers (CASE), lubricants & metalworking fluids and pharmaceutical market segments in India.
Both companies are headquartered in Mumbai and together add four sites in Bhiwandi, a city in the Thane district of Maharashtra. The transaction is expected to close in the second quarter of 2022. Financial terms were not revealed.
“This acquisition is a sound strategic decision that increases the exceptional assets we already have in the Indian industrial chemicals and pharma markets,” said Laurent Nataf, CEO & president of Azelis Asia-Pacific. “We anticipate many synergies will arise, allowing us to establish an attractive combined comprehensive offering that enables us to provide even more innovative solutions and formulation services, enhancing our value proposition to customers and principals.”
Dhirajilal Shah, founder and co-owner of Chemo India and Unipharm Laboratories, added: “Joining forces with Azelis is beneficial for our company’s evolution, allowing us to further operationalize our resources and develop efficiencies to bring the best of our expertise to the market.”
Author: Elaine Burridge, Freelance Journalist
