- Mergers & Acquisitions
Azelis acquires specialty chemicals distributor in Thailand
Azelis, a leading global service provider in the specialty chemicals and food ingredients industry based in Antwerp, Belgium, has acquired a majority stake in Catalite Co., Ltd., a well-established distributor of specialty chemicals in the Personal Care and Home Care market segments, as well as industrial formulators, intermediates and coatings, in Thailand.
Azelis has been active in Thailand since 2015, where its technically-skilled staff create innovative solutions for customers in the Industrial Chemicals sector.
The acquisition reinforces Azelis’ footprint in the Life Sciences market, and complements its Industrial Chemicals portfolio in Thailand. With an attractive portfolio of products from several key principals, Catalite serves a large, growing customer base from its site in the capital city of Bangkok, providing Azelis a solid platform to accelerate its growth in the domestic market, and the wider Asia-Pacific region.
Catalite’s 49 employees will all join Azelis, with its leadership, including Chief Executive Officer Udomlak Kootiratrakarn and Chief Commercial Officer Vaivit Arkaresvimun continuing to lead the business. The transaction is expected to close in the first quarter of 2022, after fulfilment of customary closing conditions.
“We are pleased to embark on this new chapter in our company’s history with Azelis. Becoming part of a renowned international player will be beneficial for our company, customers and principals, with numerous opportunities for growth, and great synergies for both companies. Combining our strengths with Azelis’ will give us access to other reputable principals, further reinforce our technical expertise and formulation development, and enable us to better serve our customers,” said Udomlak.
“A strengthened presence in Thailand deepens our coverage in Asia Pacific, which is one of the strategic priorities for the Group. Principals benefit from Azelis’ wider platform in this high-growth region, while customers benefit from Catalite’s and Azelis’ complementary portfolio of products, and combined ability to provide innovative solutions and best-in-class services. This transaction is aligned with Azelis’ strategy to complement organic growth with strategic value enhancing acquisitions,” said Laurent Nataf, CEO & president of Azelis Asia Pacific.