- Mergers & Acquisitions
Azelis acquires Chemical Partners in Lebanon and Belgium
Following recent acquisitions in Turkey and Colombia, Azelis announced on July 1 that it has reached an agreement to acquire 100% of the shares of Chemical Partners and Chempart Polymers’ entities in Lebanon and Belgium. The company is an independent distributor of specialty chemicals with a strong foothold in the industrial chemicals market, particularly in CASE (coatings, adhesives, sealants & elastomers) and R&PA (rubber & plastic additives) in Africa and the Middle East.
Chemical Partners represents a strategic acquisition to strengthen Azelis’ lateral value chain (LVC) in industrial chemicals, following the acquisition of Umongo earlier this year, providing the group with a strong portfolio of products and expertise spanning the key end markets in industrial chemicals in the region, including CASE, R&PA and L&MWF (lubricants and metalworking fluids).
This would also complement Azelis’ existing LVC in life sciences in the region. In addition, the acquisition expands Azelis’ geographical footprint, with Chemical Partners present in more than 30 countries across the Middle East and Africa, including the Levant and Sub-Saharan Africa.
Founded in 1995, Chemical Partners has grown to become one of the leading distributors of specialty chemicals in Africa and the Middle East. The company has long-standing relationships with top-tier principals, and serves a diversified customer base. Chemical Partners also provides technical advice to its customers, and shares the same commitment to innovation and sustainability as Azelis. As part of the transaction, the core management team of Chemical Partners will continue to lead the business and support the integration into Azelis. The transaction is expected to close in the third quarter of 2022, after completion of customary closing conditions.
“We very much look forward to welcoming Chemical Partners to the Azelis family. This acquisition is an important milestone in our strategy to reinforce our market leadership in the region. Chemical Partners is a very strong fit to our product portfolio and geographical footprint, significantly strengthening our LVC and positioning us to service more customers and grow with our principals. I look forward to seeing our teams join forces and everything that they will accomplish together,” said Dr. Hans-Joachim Müller, Azelis CEO.
“After growing the business over the last 25 years, we are delighted to take the next step in our journey and join the Azelis team, furthering the growth of Chemical Partners. Azelis’ approach to innovation and sustainability, along with their proven customer intimacy, align perfectly with our mission. As part of the team, we aim to expand our presence in the region, and the value-add it will bring to customers and principals. We look forward to combining our many strengths to bring the best opportunities to the region,” said Ralph Raffoul, managing director, Chemical Partners.