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