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3i, Azelis and Apax Partners have announced that Atlas Holding SA, the holding company of the Azelis Group has signed a binding agreement to sell the Company, a pan-European speciality chemical distributor to funds advised by Apax Partners, a global private equity firm.
The relevant workers’ councils of the Company have issued a favourable opinion on the transaction, which remains subject to regulatory clearances and is expected to close in Q2 of 2015.
3i and funds managed by 3i acquired a majority stake in Azelis in 2007. Since then the Company has transformed from a decentralised European business into an integrated group, operating under the Azelis brand, serving customers and principals in industries, such as coatings, chemicals, rubber and plastic additives, pharma and personal care industries.
During this period, Azelis has grown both organically and through acquisitions, significantly expanding its geographic footprint in the UK, Benelux and Central and Eastern Europe.
It has also successfully entered the Asian chemical distribution market, opening several offices in China, Japan and South-East Asia.
