Azelis Boosts India Specialty Chemicals Footprint
Azelis has agreed to buy the distribution assets of Indian firms Spectrum Chemicals and Nortons Exim. The transaction is expected to close in the coming two weeks. Financial terms were not disclosed.
Spectrum and Nortons Exim specialize in supplying specialty chemicals for home care, road marking, agrochemical, industrial cleaning and other applications. The acquisition will provide Azelis with better access to other regions of India, enabling it to gain additional cross-selling opportunities in related markets and attract new business. The deal is also expected to facilitate growth opportunities in India in both agrochemicals and road marking.
Azelis said it intends to add an agrochemicals lab to the ones that it already operates to assist Indian customers in the coatings, adhesives, sealants and elastomers (CASE), personal care and food markets.
“We have been building our presence in India through a mix of organic growth and strategic acquisitions, but in a market as large and diverse as India there is always more that can be achieved,” said Azelis India’s managing director Aparna Khurana. “We are very excited about the excellent complementary portfolio that Spectrum is bringing onboard, allowing us to provide an improved lateral value chain to our customers.”
Laurent Nataf, CEO & president of Azelis Asia-Pacific, added that Azelis India has quadrupled its sales in India since 2018, partially driven by organic growth but also through acquisitions made in food (MK Ingredients) and pharma (S. Zhaveri). Azelis purchased MK Ingredients in February 2019 and S. Zhaveri in February 2020.
Author: Elaine Burridge, Freelance Journalist
