Azelis Continues Acquisition Spree with Buys in Lebanon, Turkey
Azelis is continuing its recent acquisition spree with agreements to buy two more companies in Lebanon and Turkey.
The most recent is the purchase of Beirut, Lebanon-based Chemical Partners and Chempart Polymers. The company distributes specialty chemicals and has a strong foothold in the industrial chemicals market, particularly in coatings, adhesives, sealants & elastomers (CASE) and rubber and plastics additives in Africa and the Middle East.
“This acquisition is an important milestone in our strategy to reinforce our market leadership in the region,” said Azelis CEO Hans-Joachim Müller. “Chemical Partners is a very strong fit to our product portfolio and geographical footprint, significantly strengthening our lateral value chain and positioning us to service more customers and grow with our principals.”
A day earlier, Azelis had also agreed to buy the specialty lubricant and metalworking fluids (L&MWF) distribution assets of Ak-taş in Turkey. The transaction includes the oil additive business of Ak-taş as well as the base oil distribution business of subsidiary Whitechem.
“Acquiring the distribution assets of Ak-taş and WhiteChem allows us to develop critical mass in the L&MWF market in EMEA. We have a clear strategy to further grow our presence in these specialty segments and with this acquisition we have all key building blocks at our disposal,” said Anna Bertona, CEO & president of Azelis EMEA. She added that Azelis had already worked and developed a close relationship with Ak-taş when it bought Ekin Kimya from them in 2019.
Both transactions are expected to close in the third quarter of 2022. They follow two deals agreed in June, one with Ashapura Aromas in India and another with ROCSA Colombia. In May, Azelis also reached agreement to buy the distribution assets of Chemo India and Unipharm Laboratories, both of whom are well known in India’s CASE and L&MWF market segments.
Author: Elaine Burridge, Freelance Journalist
