Funds advised by Apax Partners receive Binding Offer for Azelis

Specialty chemicals distributor Azelis S.A. (Munsbach, Luxembourg) has announced that its shareholders, funds advised by Apax Partners (London, United Kingdom) the global private equity advisory firm have received a binding offer for the company. They have entered into exclusive discussion to sell Azelis to EQT VIII Fund (Stockholm, Sweden) and PSP Investments (Ottawa, ON – Canada).

Azelis said that “since the Apax Funds’ investment in Azelis [in spring 2015], the company has successfully executed on its targeted growth strategy through focusing the business on product development and innovation, as well as developing its M&A platform. Over the course of the last three years, Azelis has more than doubled revenue and tripled EBITDA.” To broaden its geographic reach and product offering the company has made nine acquisitions, the most significant being the acquisition of Koda Distribution Group in 2015, whose North American presence was complementary to Azelis’ European and Asian reach.

The transaction is expected to close in Q4-2018. It is subject to regulatory approvals, and other conditions, including consultation with employee representatives.  Financial terms were not disclosed.

Source: Azelis press release

HGE – DCG / 19.06.2018