Belgian speciality chemicals and food additive distributor Azelis (Antwerp; www.azelis.com) has acquired Chinese distributors WWRC China (Hong Kong; www.wwrc.com) and Friendship Chemical (Changzhou, Jiangsu; www.friendchem.com) for an undisclosed sum. The purchases are meant to create a strong foothold in the CASE segment – coatings, adhesives, sealants and elastomers – as well as in rubber and plastic additives in the Asia-Pacific region, according to a company statement.

With five branches in Hong Kong, Guangzhou, Tianjin, Shanghai and Chengdu, WWRC China and its 100 employees serve around 3,000 customers. Friendship Chemical is a leading supplier of vegetable oil ingredients, according to Azelis. Both transactions are expected to close before the end of October 2021.

Meanwhile, Azelis’ previously announced initial public offering (IPO) is moving forward (see Plasteurope.com of 10.09.2021). The company, which has been owned by Swedish private equity firm EQT and Canadian financial investor PSP Investments since 2018, said it plans to raise around EUR 880m. The distributor intends to use the money from the IPO to pay off part of its EUR 1.6 bn debt and to invest in planned growth projects, as CEO Hans Müller recently explained. Azelis employs around 2,800 people and generated sales of EUR 2.2 bn in 2020.