In a statement, Azelis said that MDK’s product portfolio expands the group’s platform to serve the high-growth personal care market, including Halal products, and reinforces its footprint in the broader life sciences market in the country.

Founded in 2009 and headquartered in the greater Jakarta area, MDK employs over 30 staff and runs a technical center that will join Azelis’ lab and technical support network. MDK’s management team and employees will become part of Azelis, supporting the business and the integration process following the acquisition.

The transaction is expected to close in the second quarter of 2024, after fulfillment of customary closing conditions.

Sertaç Sürür, CEO & president of Azelis Asia Pacific, said: “The acquisition of MDK provides us with an expanded presence in Indonesia and deepens our coverage in Asia Pacific. MDK’s strong market presence, complementary product portfolio, and innovation capabilities are well aligned with our business model and allow us to better support our customers and principals with innovative solutions.”

Margono Hadisantoso, PT Marga Dwi Kencana co-founder and managing director, added: “Our combined businesses create an enhanced portfolio offering for our customers and allow us to join a strong regional technical network within the personal care market, expanding the solutions provided to partners.”