Azelis strengthens its position in Africa and the Middle East
Azelis has reached an agreement to acquire 100% of the shares of Chemical Partners and Chempart Polymers’ entities in Lebanon and Belgium. The company is an independent distributor of specialty chemicals with a strong foothold in the industrial chemicals market, particularly in CASE and R&PA, in Africa and the Middle East.
Chemical Partners represents a strategic acquisition to strengthen Azelis’ lateral value chain (LVC) in industrial chemicals following the acquisition of Umongo earlier this year In addition, the acquisition expands Azelis’ geographical footprint, with Chemical Partners present in over 30 countries across the Middle East and Africa, including the Levant and Sub-Saharan Africa, providing further opportunity for growth.
Transaction expected to close in the third quarter of 2022
Founded in 1995, Chemical Partners has grown to become one of the leading distributors of specialty chemicals in Africa and the Middle East. As part of the transaction, the core management team of Chemical Partners will continue to lead the business and support the integration into Azelis. The transaction is expected to close in the third quarter of 2022, after fulfilment of customary closing conditions.
