Azelis acquires South Africa’s Umongo
Azelis, a global specialty chemical and food ingredient distributor based in Antwerp, Belgium, announced its acquisition of Umongo, a market-leading lubricants and metalworking fluids distributor based in South Africa. Azelis will acquire 90% of the shares of Umongo, which is majority owned by the Omnia Group. The transaction is expected to close in the fourth quarter, pending fulfilment of customary closing conditions.
The transaction reinforces Azelis’ lateral value chain by expanding its product offering for the lubricants and metalworking fluid end markets. The acquisition of Umongo strengthens the Group’s foothold in industrial specialty chemicals in South Africa and the rest of the region. It is also consistent with Azelis’ strategy of complementing organic growth with strategic acquisitions.
Major supplier to lubricant industry across Sub-Saharan Africa
Established in 2005, Umongo has grown to become a major supplier and service provider to the lubricant industry across Sub-Saharan Africa, providing technical support and innovative solutions through their application laboratory. Omnia Group purchased 90% of the shares of Umongo from Lubricant Additives Solutions and Technology (Mauritius) in 2017.
Headquartered in Durban, South Africa, Umongo’s 35 employees serve customers ranging from large multinationals and strong local players to smaller companies. Boston Moonsamy, CEO of Umongo, will remain with the company and continue to lead the business.
The transaction supports Azelis’ sustainability commitments by increasing the diversity of its workforce in South Africa, expanding the relationship with blue chip principals with a strong sustainability agenda and innovative bio-based oils, and strengthening its offering for an end market which ultimately reduces friction and associated energy losses.
“The acquisition of Umongo is another demonstration of our commitment to strengthen our lateral value chain, as well our footprint in Africa. The addition of Umongo’s product offering and competencies reinforce our compelling value proposition to customers and principals,” said Dr. Hans Joachim Müller, Azelis chief executive officer.
“As a large international player, Azelis will provide the right strategic direction allowing Umongo to continue to flourish. I would like to thank all Umongo’s employees, principals, customers and other stakeholders and wish them all the very best going forward,” said Seelan Gobalsamy, Group CEO of Omnia.