Azelis has reached an agreement to acquire Chemo India and Unipharm Laboratories’ distribution assets. Both companies are distributors of specialty chemicals and ingredients for the CASE (coatings, adhesives, sealants, elastomers), L&MWF (lubricants and metalworking fluids) and pharmaceutical market segments in India.
The transaction is expected to close in the second quarter of 2022.
According to Azelis, the acquisition strengthens the company’s industrial chemicals portfolio and its footprint in the pharmaceutical market, further reinforcing Azelis’ lateral value chain for these market segments. Azelis says the transaction represents a fit with its growth ambitions in India, as well as its wider strategic vision for the Asia Pacific region.
Founded in 1966 and 1970 respectively, with headquarters in Mumbai and four sites in Bhiwandi, Chemo India and Unipharm Laboratories are the distribution partners of global and regional principals. Owners Amit Shah and Jigar Shah will both continue to lead the business and support the integration into Azelis, working closely with Azelis’ existing CASE, L&MWF and Pharma business teams.