Azelis Buys Major Stake in Thailand’s Catalite
In its first acquisition of 2022, Azelis has purchased a majority stake in Thailand’s Catalite. The deal is expected to complete in the first quarter. The size of the stake and financial terms were not disclosed.
Headquartered in Bangkok and employing 49 people, Catalite distributes specialty chemicals to the personal care and home care market segments, as well as industrial formulations, intermediates and coatings.
Azelis said the acquisition reinforces the group’s footprint in the life sciences market and complements its industrial chemicals portfolio in the country, also providing a solid platform to accelerate its growth both in Thailand and in the wider Asia Pacific region. Azelis has been active in Thailand since 2015.
“Becoming part of a renowned international player will be beneficial for our company, customers and principals, with numerous opportunities for growth, and great synergies for both companies,” said Catalite CEO Udomlak Kootiratrakarn. “Combining our strengths with Azelis’ will give us access to other reputable principals, further reinforce our technical expertise and formulation development, and enable us to better serve our customers.”
Kootiratrakarn and Catalite’s chief commercial officer Vaivit Arkaresvimun will continue to lead the business.
Author: Elaine Burridge, Freelance Journalist
