April 15 2021, David R Brown
Azelis expands its agrochemicals and home care business in India
Azelis has signed an agreement to acquire the distribution assets of the Indian companies Spectrum Chemicals and Nortons Exim Private Limited ("Spectrum"). Both companies are owned by the Mehta family and specialise in the distribution of specialty chemicals for home care, the road sector, agrochemical and other applications. Spectrum has offices in Mumbai and New Delhi.
Azelis India has demonstrated strong growth over the last years and has quadrupled its sales since 2018Laurent Nataf
CEO & President of Azelis Asia Pacific
The addition of Spectrum will further expand Azelis' offering in agrochemicals, home care and industrial cleaning as well as bespoke specialty chemicals for industrial applications. Following on this acquisition, Azelis will expand its technical capabilities in India by adding an agrochemicals lab to the ones that already cater to the local customer needs in CASE, personal care and food market sectors. Spectrum will also provide Azelis with better access to other regions of India, enabling Azelis to gain additional cross-selling opportunities in related markets and attract new mandates.
Mr. Parindu Mehta, Founder and Business Director of Spectrum, commented: “We are very excited about this next stage in our company history. Having built strong presence in the local market, the time is right for us to partner with a reputable, international player who can provide access to new principals and help us expand our reach altogether. The new partnership will increase specialization and customer/supplier intimacy driven by market knowledge.”
Mr. Laurent Nataf, CEO & President of Azelis Asia Pacific, added: “Azelis India has demonstrated strong growth over the last years and has quadrupled its sales since 2018, which was partially driven by organic growth but also through acquisitions made in food (MK Ingredients) and pharma (S. Zhaveri) sectors. Azelis India has an excellent track record of successful integrations and is looking forward to welcome Spectrum to the Azelis family. ”
Mr. Parindu Mehta, the current owner of Spectrum, will remain with Azelis. The transaction is expected to complete in the next two weeks.
Azelis is a leading distributor of speciality chemicals and food ingredients present in over 50 countries across the globe with around 2,200 employees. 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 lateral value chain of complementary products to about 40,000 customers, creating a turnover of €2.15 billion (2019).
Throughout our extensive network of more than 60 application laboratories, our award-winning technical staff help customers develop formulations. We combine a global reach with a local focus to offer a reliable, integrated service to local customers and attractive business opportunities to principals. And we believe in building and nurturing solid, honest and transparent relationships with our people and partners.
Source(s): Azelis Press Release