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Funds advised by the global private equity advisory firm Apax Partners have received a binding offer and have entered into exclusive discussions to sell Azelis, a global specialty chemicals and food ingredients distributor, to the EQT VIII fund and PSP Investments. The transaction, which is subject to regulatory approvals, and other conditions including consultation with employee representatives, is expected to close in the fourth quarter of 2018. Financial terms were not disclosed.

About Azelis

Established in 2001, Azelis is a global specialty chemicals and food ingredients distributor providing a diverse range of products and innovative services to more than 43,000 customers in over 40 countries worldwide. Azelis provides a technical sales force to help service its key suppliers, providing  market coverage to its customers across a multitude of market segments. The company operates over 50 of its own application laboratories, offering formulations for its customers.

Over the course of the last three years, Azelis has more than doubled revenue and tripled EBITDA. Since the acquisition of Azelis by Funds advised by Apax Partners, the company has undertaken nine acquisitions to broaden its geographic reach and product offering, the most significant being the 2015 acquisition of Koda Distribution Group whose North American presence was complementary to Azelis’ European and Asian reach. This transformational acquisition facilitated the expansion of Azelis into a truly global player with the ability to serve Principals and customers at a global, regional and local level, with an expanded suite of services.

Dr. Hans-Joachim Müller, CEO of Azelis, said: “Apax’s support has enabled Azelis to expand its global footprint in EMEA, Americas and Asia Pacific, delivering sustainable growth and strong results. Going forward, our strategy is to continue to leverage our diversified business model. The new proposal represents an opportunity to facilitate our expansion plans and further accelerate the fantastic growth we have enjoyed with Apax.”

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