EQT Partners, PSP Investments To Acquire Azelis
The EQT VIII fund, in partnership with the Public Sector Pension Investment Board as co-investor, has been granted exclusivity to finalize the discussions to acquire Azelis from funds advised by Apax Partners.
Azelis was established in 2001 through the merger of Novorchem (Italy) and Arnaud (France). It has since followed an active acquisition strategy to create a leading speciality chemical distribution network in Europe. Today, Azelis supports more than 43,000 customers who benefit from its application know-how and technical support and have access to a wide product portfolio from more than 2,000 speciality raw materials producers. The company has 1,800 employees and sales of around EUR 1.8 billion.
"Azelis holds a leading position in the attractive specialty chemical distribution space," said Bert Janssens, Partner at EQT Partners, Investment Advisor to EQT VIII. "We have been impressed by how Azelis' management team transformed the business from a predominantly European operator to a leading global platform. EQT looks forward to working with Hans-Joachim and his team on their continued growth journey."
Simon Marc, Managing Director and Head of Private Equity at PSP Investments, added:
"Strong relationships with leading private equity firms are at the core of our investment strategy, and we are excited to partner with EQT for the acquisition of Azelis. Azelis is a global leader in an attractive market that has strong consolidation prospects. We are very pleased to back Azelis and its world-class management team in their next stage of growth."