Performance Materials BU significantly enhances Asia-Pacific Footprint for Speciality Chemicals
Speciality chemicals distributor DKSH AG (Zurich, Switzerland) has announced the acquisition of diversified specialty chemicals distributor Axieo (Kew (Melbourne) – Victoria, Australia) from management and financial sponsor Champ Private Equity.
Axieo sells products into a variety of industrial applications as well es the Cosmetics, Pharmaceutical, Food & Beverage and Agriculture. It operates two “Innovation Centers” in co-operation with Monash University in Melbourne, one focused on Life Sciences, the other on Industrial Applications. The company, which dates its roots back to 1950, has a turnover of ca. EUR 120 mn (ca. AUD 186 mn). It employs a staff of 120 and serves more than 2’600 customers according to the announcement.
No financial details were disclosed on the transcation, which is expected to close during Q1-2020, subject to certain conditions precedent. DKSH says the acquisition will be immediately earnings accretive. It adds more than 10% to the annual turnover of the Performance Materials BU.
Source: DKSH press release, Axieo website
HGE / DCG – 27.12.2019