Tag Archives: India

Azelis to acquire Distribution Business of Spectrum Chemicals and Nortons Exim

April 19, 2021 Guenther Eberhard Leave a comment

Private Equity owned Distribution Group expands Market Coverage in India with Asset Deal

Specialty chemicals and food ingredients distributor Azelis S.A. (Munsbach, Luxembourg) has announced that it has signed an agreement to acquire the distribution assets of Spectrum Chemicals and Nortons Exim Pvt. Ltd. [“Spectrum”] (Mumbai, India) from founder Parindu Metha and his family for an undisclosed sum.

The two companies, with offices in Mumbai and New Delhi, are active in the distribution of specialty chemicals used in Home Care, Road Construction and Agrochemicals, Azelis said in the announcement. Parindu Metha will stay with Azelis and it is planned to establish an Agrochemicals laboratory facility. This will be in addition to the three laboratories, for CASE, Personal Care and Food, which Azelis has established over the years, since first entering India in 2008.

No financial information was disclosed on the transaction, which is expected to be completed within the next few weeks, according to Azelis’ press release.

Source: Azelis press release

HGE – DCG / 19.04.2021

IMCD to acquire Indian Pharma Excipients Distributor Signet

September 16, 2020 Guenther Eberhard Leave a comment

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

Azelis to acquire Excipients Business from Indian Distributor S. Zhaveri Pharmakem Pvt. Ltd.

February 3, 2020 Guenther Eberhard Leave a comment

Azelis with another Acquisition to enhance Industry Coverage in India

Specialty chemicals and food ingredients distributor Azelis S.A. (Munsbach, Luxembourg) has announced that it has signed an agreement to acquire 100% of the distribution and indent business of S. Zhaveri Pharmakem Pvt. Ltd. (Mumbai, India), a distributor of Pharma Excipients for an undisclosed amount.

S. Zhaveri is was founded in 1951 and has to-date been owned 100% by the Javeri family. The company serves more than 250 customers with products from international as well as domestic principals. All its employees in the distribution business will become part of Azelis. Following the closing, Mrs. Uma Javeri and Ms. Sonali Sheth will support the integration of S. Zhaveri Pharmakem’s distribution business into Azelis, and will lead the entire pharma business of Azelis in India.

No financial information was disclosed on the transaction.

Source: Azelis press release

HGE – DCG / 03.02.2020

IMCD releases Sustainability Report 2018

September 30, 2019 Guenther Eberhard Leave a comment

Sustainability and Digitalisation seen as main Challenges for Society globally

Specialty chemicals and food ingredients distributor IMCD N.V. (Rotterdam, The Netherlands) announced that it has published its first Sustainabilty Report. The document provides energy consumption, water use and emissions data for the full year 2018.

“Sustainability and digitalisation are the main challenges that face our society globally. As IMCD’s presence around the world increases, our impact on the environment and society becomes more important”, said Maurits van Kolck, IMCD’s Regulatory, Quality and Sustainability Director. “That’s why we are accelerating our sustainability efforts with the aim to grow the business while reducing our global environmental footprint through clear and measurable targets.”

The report can be downloaded from the company website via the link https://www.imcdgroup.com/about-us/sustainability-and-regulatory/sustainability

IMCD is a member of the Together for Sustainability (“TfS”) initiative. The company has earlier received a “Silver” recognition from EcoVadis for 2018.

Source: IMCD press release, IMCD website

HGE – DCG / 30.09.2019

IMCD makes another Acquisition in India

September 20, 2019 Guenther Eberhard Leave a comment

Addition of Monachem Additives to enhance “Advanced Materials” Footprint

Specialty chemicals and food ingredients distributor IMCD N.V. (Rotterdam, The Netherlands) announced that it has acquired 100% of the outstanding shares of Monachem Additives Private Limited and Addpol Chemspecialities Private Limited [together “Monachem Additives”] (Vadodara, Gujarat – India) for an undisclosed amount. The two businesses will be integrated into IMCD’s existing organisation by 2020.

Monachem Additives was astablished in 1974 and sells a broad range of additives, particularly to the Plastics industry. In FY 2018/19 (ending 31. March 2019), the company had revenues of INR 800 mn (ca. EUR 10 mn) and employed a staff of 22 persons, IMCD said in the announcement.

IMCD plan is to enhance its footprint in the “Advanced Materials” sector. It is paying the consideration from available cash and existing facilities. No financial details were disclosed on the transaction.

Source: IMCD press release

HGE – DCG / 20.09.2019

IMCD merges German Entities and appoints new Managing Director

September 19, 2019 Guenther Eberhard Leave a comment

Lars Wallstein to head IMCD Deutschland GmbH in Cologne

Specialty chemicals and food ingredients distributor IMCD N.V. (Rotterdam, The Netherlands) announced that it has merged Hamburg based Velox GmbH into the newly established IMCD Deutschland GmbH, formerly IMCD Deutschland GmbH & Co. KG (Cologne, Germany) effective 01. September 2019. The company said it will maintain its current locations in Cologne, Freiburg and Hamburg.

Effective the above date, Lars Wallstein has been named Managing Director of the legal entity. He joins from Emulsion Polymers producer Sythomer and follows Frank Schneider, who will focus solely on his responsibilities as a Member of IMCD’s Group Executive Committee in the future.

Source: IMCD customer information

HGE – DCG / 19.09.2019