Azelis strengthens its presence in industrial chemicals in EMEA with the acquisition of the distribution assets of Ak-taş
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ANTWERP, Belgium–(BUSINESS WIRE)–Regulatory News:
Azelis (Brussels: AZE), a leading global provider of innovation services to the specialty chemicals and food ingredients industry, announces that it has signed an agreement to acquire the Specialty Lubricants Distribution Assets (L&MWF1;) from Ak-taş in Turkey. The transaction includes the petroleum additives business of Ak-taş as well as the base oil distribution business of Whitechem, a subsidiary of Ak-taş.
Ak-taş and WhiteChem associate with top-notch principals and have long-standing relationships with customers in Turkey and the surrounding region.
The acquisition further strengthens Azelis’ lateral value chain (LVC) in the L&MWF; market segment, following the acquisition of Umongo in South Africa earlier this year. This is another reflection of Azelis’ commitment to sustainability, expanding key relationships with principals with a strong program in renewable and sustainable base oils. With a dedicated application lab at L&MWF;, Azelis’ technical specialists aim to constantly drive innovation and sustainability within the segment, as well as in the wider market.
The transaction is expected to close in the third quarter of 2022, following the satisfaction of customary closing conditions.
Anna Bertona, CEO and President of Azelis EMEA, adds:
“Acquiring the distribution assets of Ak-taş and WhiteChem allows us to develop critical mass in the L&MWF; market in EMEA. We have a clear strategy to further grow our presence in these specialist segments and with this acquisition we have all the key elements at our disposal. Having worked with Ak-taş in the past when we acquired Ekin Kimya from them in 2019, we have developed a close relationship based on similar values and technical focus. We look forward to welcoming them to the Azelis family and growing Azelis’ L&MWF; business together.
Mr. Muharrem Aktaş, President of Ak-taş Dış Ticaret A.Ş., says:
“Today, we are very pleased to announce that we have opened a safe new path for our additive and base oil distribution business. Over the years, the teams at Ak-taş and WhiteChem have developed a solid business, combining technical expertise with close and lasting relationships with prime contractors and customers.We are convinced that with Azelis we have found the right partner to continue to develop the business on the basis of these key ingredients for success.”
Mr. Deniz Özgür Aktaş, CEO of Whitechem SA., remarks:
“We are very pleased, effective today, to announce that we have signed an agreement to sell our base oil distribution business to Azelis. Whitechem SA, a subsidiary of Ak-taş, has shown remarkable performance in this field over the years and has built a solid foundation for continuity. We strongly believe Azelis will grow it further from here with its clear strategy and high level of commitment to the industry.
Dr. Murat Çıtıroğlu and Ms. Gamze Çıtıroğlu from Ak-taş/WhiteChem point out:
“We are very happy to join the Azelis team. We have a rich history with Azelis through Ekin Kimya and a decades-long business partnership with Aktaş/Whitechem top-notch managers. Thanks to this new partnership, we will bring together the two driving forces and jointly manage the L&MWF; market. We will be able to leverage the power of Azelis’ extensive global network and industry-leading products from top-notch principals. These combined synergies will create continued growth, and we look forward to bringing this expertise to market. »
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About Azelis
Azelis is a leading global provider of innovation services to the specialty chemical and food ingredient industry, operating in over 57 countries worldwide and employing over 3,000 people. Our knowledgeable teams of industry, market and technical experts are each dedicated to a specific market within life sciences and industrial chemicals. We offer a side value chain of complementary products to over 51,000 customers, supported by ~2,300 primary relationships, generating revenue of €2.8 billion (2021). Azelis Group NV is listed on Euronext Brussels under the symbol AZE.
Through our extensive network of more than 60 application labs, our award-winning staff help develop formulations and provide technical guidance throughout customers’ product development process. We combine a global reach with a local footprint to deliver a reliable, integrated and unique digital service to local clients and attractive business opportunities to constituents. Rated EcoVadis Platinum, Azelis is a leader in sustainability. We believe in building and maintaining strong, honest and transparent relationships with our employees and partners.
Impact through ideas. Innovation through formulation.
www.azelis.com
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1 Lubricants and metalworking fluids
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Contact information
Azelis
Sarah Van Alsenoy
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Source: Azélis