Tag Archives: Asia-Pacific

IMCD to acquire Indonesian Distributor PT Megasetia

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Further enhanced Footprint in Life Sciences in the Asia-Pacific Region

Specialty chemicals and food ingredients distributor IMCD N.V. (Rotterdam, The Netherlands) has announced that IMCD Indonesia has signed an agreement to acquire 100% of the shares of PT Megasetia Agung Kimia [“Megasetia”] (Jakarta, Indonesia), a distributor of specialty ingredients for the Life Sciences sectors. The transaction will take place in two tranches, with IMCD now acquiring 70% of the share capital and the remaining 30% in 2025.

 

Founded in 1995, Megasetia today has three laboratories, six offices, and six warehouses across Indonesia. Its main activity is the distribution of speciality ingredients for the Pharmaceuticals Industry in Indonesia. In addition, it covers the Personal Care, Home Care, Animal Health, and certain industrial markets. With 160 employees, the company generated revenues of approximately IDR 974 bn (ca. EUR 60 mn) in 2020. It currently serves more than 1’000 customers and represents over 50 ingredients producers from around the world. IMCD said the acquistion is a an execllent fit with the groups Life Science strategy and provides a significant platform for further growth in the Life Science segments in Indonesia.

No further financial details were disclosed on the transaction, which expected to be closed in December.

Source: IMCD press release

 

HGE – DCG / 18.11.2021

DKSH announces the Acquisition of Right Base Chemicals in China

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Further Expansion of the Performance Materials Business Unit

Speciality chemicals  distributor DKSH AG (Zurich, Switzerland) has announced the acquisition of a majority share in specialty chemicals distributor Shanghai Right Base Chemicals Co. Ltd. [“RBC”] (Shanghai, China) from majority shareholder and General Manager Windy Wang and her co-investors for an undisclosed sum. The initial transaction involves the transfer of a 70% stake, with the remaining shares to be bought in five years.

 

Founded in 1994, RBC and its 60 employees cover the Eastern, Central, and South-Western regions of the Chinese market. The company primarily distributes Additives, Resins, and Colorants for Paints & Coating and Inks. With net sales of approx. EUR 23 mn (ca. CHF 25 mn at 1.00 CHF = 7.00 CNY) RBC has what DKSH describes as a “sound profitability and return on capital”. The investment is expected to be immediately earnings-accretive.

 

Closing of the transaction is expected for Q4-2021.  It is subject to certain customary closing conditions, DKSH said in the announcement. No further financial details were disclosed on the transaction.

 

Source: DKSH press release

 

HGE / DCG – 03.11.2021

Azelis to acquire China Operations of Ingredients Plus

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Specialties Distribution Group Azelis strengthens its Position in the Personal Care Market in China

Specialty chemicals and food ingredients distributor Azelis S.A. (Munsbach, Luxembourg) has  announced that it has signed an agreement to acquire the Greater China operations of Ingredients Plus Pty. Ltd. (Rydalmere (Sydney), NSW – Australia), a distributor of ingredients for the Personal Care industry.

The transaction comprises 100% of the shares of Ingredients Plus Hong Kong and the fully owned subsidiaries in Shanghai and Guangzhou, where in total over 40 people are employed. All employees will become part of the Azelis team, remaining in their respective position to support the business, Azelis said in the announcement.

No financial information was disclosed on the transaction, which is expected to be completed by end of August, according to the Azelis press release.

Source: Azelis press release

HGE – DCG / 16.08.2021

Azelis to acquire Seoul based COSEAL Co. Ltd.

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Specialties Distribution Group makes further Acquisition in South Korea

Specialty chemicals and food ingredients distributor Azelis S.A. (Munsbach, Luxembourg) has  announced that it has signed an agreement to acquire100% of the shares of COSEAL Co. Ltd. (Seoul, South Korea) for an undisclosed sum in an add-on acquisition. The company is a specialist for the distribution, repackaging and blending of Agricultural & Horticultural Surfactants, with long-established customer relationships and a strong technical expertise. Azelis expects that the acquisition of Coseal will drive the groups’ continued growth in this market segment, across the whole Asia-Pacific region.

 

Established in 1973, the company is owned by Sang Jin Kang and family. Mr. Kang and Coseal’s 45 employees will be integrated into the Azelis team, the announcement said.

 

Azelis has made its first acquistion in Korea in 2018, entering the Personal Care sector at the time. Earlier this year it acquired a distribution company serving the Food sector.

 

No financial information was disclosed on the transaction, which is expected to be completed during Q3-2021

 

Source: Azelis press release

 

HGE – DCG / 16.07.2021

Azelis acquires Seoul based Food Ingredients Distributor MH Co., Ltd.

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Specialties Distribution Group to grow further in South Korea by Add-on Acquisition

Specialty chemicals and food ingredients distributor Azelis S.A. (Munsbach, Luxembourg) has  announced that it has acquired MH Co., Ltd. (Seoul, South Korea), a distributor of Food Additives & Ingredients for an undisclosed sum.
According to the announcement, this acquisition is helping Azelis in broadening “its offering in the highly attractive and expanding innovative food market of South Korea, with its 51 mn inhabitants and a high GDP per capita”. Azelis has made its first acquistion in Korea in 2018, entering the Personal Care sector at the time. 

Established in 2005, the company disrributes Food Ingredients such as Gluten, Starches, Sweeteners, and Functional Food Additives. MH is a family-owned business, controlled by Maeng Moon-Ho, who will remain with the company and support the integration of MH into Azelis.

No financial information was disclosed on the transaction.

Source: Azelis press release

HGE – DCG / 05.07.2021

DKSH announces Acquisition of SACOA in Australia

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Expanded Value-added Service Offering in the Agrochemicals Sector

Speciality chemicals  distributor DKSH AG (Zurich, Switzerland) has announced the acquisition of 100% of Agrochemicals distributor and blender SACOA Pty Ltd  (Claremont – Western Australia, Australia) for an undisclosed sum. DKSH says the intention is “to further diversify its value-added service offering”.

 

Founded in 1994, family-owned SACOA is a formulator of premium agricultural crop protection products with sales of ca. AUD 21 mn (ca. CHF 15 mn at an exchange rate of 1.40 AUD/CH or ca. EUR 13.6 mn) that “develops, formulates and sells spray oils and adjuvants to a long-term customer base of agricultural distributors, resellers and farmers. The product range is supported by industry and academic research and field trial programs as well as proprietary and trademarked brand names”, DKSH said in the announcement.

 

According to DKSH, SACOA’s product range is highly complementary to the existing product portfolio, “recently enhanced through the 2020 acquisition of Axieo, including its subsidiary SST, a leading supplier of adjuvants and spray additives, in Australia and New Zealand”. It is planned to fully integrate SACOA into DKSH’s Performance Materials BU and to merge the sales teams, in order to create revenue synergies.

 

Source: DKSH press release

 

HGE / DCG – 30.04.2021

Azelis to invest in Assi Primera Kimika Inc. and Phil-Asiatic Supply & Services Inc.

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Private Equity owned Distribution Group further expands Asia-Pacific Coverage and enters Philippines

Specialty chemicals and food ingredients distributor Azelis S.A. (Munsbach, Luxembourg) has recently announced that it will acquire a majority of the shares of Assi Primera Kimika Inc. [“APKI”] and Phil-Asiatic Supply & Services Inc. [“PSSI”] (Alabang, Muntinlupa, Metro Manila – Philippines), two distributors of specialty chemicals. No financial details were disclosed on the transaction, which is expected to close during the next three months.

 

APKI and PSSI, which were established in 2007 by Mr. Mohd Kassim bin Salleh and the late Ms. Cris S. Aquino, are primarily focused on the Personal Care industry, but are also active in Home Care, Paints & Coatings, Construction Chemicals,  Inks and certain industrial chemical markets.

 

In the annoucement Azelis stressed that “… principals have already expressed interest in building a strong portfolio with us in the country once we enter into this partnership, also in industries other than the ones where APKI and PSSI are currently active.”

 

Source: Azelis press release

 

HGE – DCG / 18.01.2021

Barentz to acquire Singapore-based Nardev Chemie

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Netherlands-based Life Science Ingredients Distributor further expands Presence in Asia-Pacific

Life science ingredients distributor Barentz International N.V. (Hoofddorp, The Netherlands) announced yesterday that it has acquired Nardev Chemie Pte. Ltd. [“Nardev”] (Singapore, Singapore), a leading distributor of ingredients for the Personal Care industry in the Asia-Pacific region for an undisclosed sum.

 

Founded in 1989, Nardev is a highly specialised distributor, operating in Indonesia, Thailand, Vietnam, Malaysia and Singapore. Its approx. 90 employees provide technical support and formulation development from in-house laboratories, and state-of-the-art logistics for a portfolio of ca. 3’000 products, the announcement said. The current management team will remain active in the business.

 

Source: Barentz press release

 

HGE – DCG / 23.10.2020

IMCD to acquire Indian Pharma Excipients Distributor Signet

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Further Pharma Growth for IMCD in Asia-Pacific and Middle East, Africa

Specialty chemicals and food ingredients distributor IMCD N.V. (Rotterdam, The Netherlands) announced yesterday that it will acquire 100% of Signet Excipients Private Limited [“Signet”] (Mumbai, Maharashtra – India), one of the leading distributors of excipients in India, in a two-phase transaction. IMCD will now acquire 70% of the share capital from the founders, and the remaining 30% by 2024. Harish Shah, Founder and Managing Director oft Signet, will continue to lead the company post completion of the first phase.

Since its foundation in 1986, Signet grew from a small distribution company to one of the leading distributors of excipients in India, the anouncement said. The company focusses on the distribution of Pharmaceutical, Nutraceutical and Bio-pharma Excipients across a range of categories such as Diluents, Fillers, Sweeteners, Disintegrants, Binders, Surfactants and others. Besides sales in India, Signet is also active in Bangladesh, the Middle East and Africa,  currently serving more than 900 customers, with more than 400 products from leading excipient producers. With approximately 100 employees, Signet generated revenue of ca. EUR 152 mn (INR 13.2 bn) in the last twelve months (up to and including June 2020), and realised a normalised EBITA of ca. EUR 39 million (INR 3.4 bn).

IMCD said it considers Signet to be well aligned with the IMCD business model and strategy, providing a significant platform for further growth in India and the Asia-Pacific region, giving the transaction a strong strategic rationale.

Closing of the transaction is subject to customary closing conditions and regulatory approval. It is expected to take place in Q4-2020. No financial details were disclosed on this transaction.

Source: IMCD press release

DistriConsult comment: In a separate anouncement today IMCD said, to finance the purchase of the first tranche of 70% of the shares of Signet, it has successfully raised ca. EUR 400 mn through an accelerated bookbuild offering of new shares. Any surplus will be used for “general corporate purposes”.

HGE – DCG / 16.09.2020

DKSH completes Axieo Acquisition

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Ben Hopkins to lead Activities of the Performance Materials BU in Australia and New Zealand

Speciality chemicals  distributor DKSH AG (Zurich, Switzerland) has announced that the acquisition of specialty chemicals distributor Axieo  (Kew (Melbourne) – Victoria, Australia) has been completed. The acquired business will be fully consolidated as of March 2020.

The company further said that Ben Hopkins, currently Vice President – Global Foods & Beverage Industry located in Singapore, will move to Australia to take over the leadership of the combined business of DKSH and Axieo in Australia and New Zealand.

Source: DKSH press release

HGE / DCG – 02.03.2020

Caldic acquires Malaysian Distributor DCM Asia

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Dutch Distributor expands its activities in Southeast Asia

International producer and distributor of food ingredients and chemicals, Caldic B.V. (Rotterdam, The Netherlands) has today announced the acquisition of DCM Asia (Shah Alam, Selangor (Kuala Lumpur), Malaysia), a distributor of specialty chemicals in Malaysia from Private Equity sponsor The Riverside Company (New York, NY – United States) for an undisclosed sum.

 

DCM Asia was originally established in 1987. Today it serves over 1’000 customers in Malaysia and other parts of Southeast Asia, Caldic said in a statement. Markets covered include Coatings & Construction, Plastics & Rubber, Personal Care and Food & Nutrition.

 

No financial details were disclosed on this transaction.

 

Source: Caldic press release, Riverside website

 

HGE – DCG / 06.01.2020

 

DKSH acquires Axieo in Australia and New Zealand

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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