Azelis to acquire the specialty lubricant assets of Ak-taş
Photo courtesy of Ak-tas

Azelis to acquire the specialty lubricant assets of Ak-taş

Azelis, a leading global distributor, announced on June 30  that it has signed an agreement to acquire the specialty lubricant distribution assets of Ak-taş in Turkey. The  transaction includes the oil additive business of Ak-taş as well as the base oil distribution business of Whitechem, a  subsidiary of Ak-taş.  

Ak-taş and WhiteChem partner with blue-chip principals and have long-standing relationships with customers in Turkey and the surrounding region. 

The acquisition further strengthens Azelis’ lateral value chain (LVC) in the lubricants and metalworking fluids (L&MWF) market segment, following the  acquisition of Umongo in South Africa earlier this year. The company said the transaction is a further reflection of Azelis’ commitment to sustainability,  expanding key relationships with principals with a strong agenda in renewable and sustainable base oils.

The transaction is expected to close in the third quarter of 2022, after fulfillment of customary closing conditions. 

“Acquiring the distribution assets of Ak-taş and WhiteChem allows us to develop critical mass in the L&MWF market in EMEA. We have a clear strategy to further grow our presence in these specialty segments and with this acquisition we  have all key building blocks at our disposal. Having already worked with Ak-taş in the past when we acquired Ekin Kimya from them in 2019, we have developed a close relationship based on similar values and technical focus. We look forward to welcoming them into the Azelis family and together growing the L&MWF business of Azelis,” said Anna Bertona, CEO and president of Azelis EMEA.

“Today we are very happy to announce that we have opened a new and safe road for our additive and base oil distribution business. Over the years, Ak-taş and WhiteChem teams have developed a strong business, combining technical expertise with close and long-lasting relationships with principals and customers. We are confident that with Azelis we have found the right partner to continue growing the business based on these key ingredients for success,” said Muharrem Aktaş, chairman of Ak-taş Dış Ticaret A.Ş.

“We are highly pleased, as of today, to announce that we have signed an agreement to sell our base oil distribution  business to Azelis. Whitechem SA, a subsidiary of Ak-taş, has shown a remarkable performance in this business over the  years and built a sound basis for the continuity. We strongly believe that Azelis will grow it further from there with its clear strategy and high level of dedication to the sector,” Deniz Özgür Aktaş, CEO of Whitechem SA, said.