Azelis to Acquire Koda Distribution Group
Azelis Group, Antwerp, Belgium, and Koda Distribution Group (KDG), Stamford, CT/USA, announce, that Azelis has signed a binding agreement to acquire KDG, significantly enhancing its position as a leading global specialty chemicals distributor. The transaction remains subject to regulatory clearances and is expected to be finalized by the end of 2015.
KDG will become known as Azelis Americas, led by Frank Bergonzi, CEO and President of KDG who will assume the role as CEO and President of Azelis Americas and will become a member of the Azelis Board of Directors. Azelis Americas will continue to operate in the USA and Canada, using its existing business model and go-to-market strategy. It will maintain its regional brands and specialty chemicals sales to customers via industry verticals, and through dedicated experts.
Frank Bergonzi commented: “Being part of the Azelis Group will provide a strong platform for increased growth and widespread benefits of being part of a global organisation with a regional focus. This agreement will allow us to be closer to our principals and engage with them on a global level, helping to facilitate new opportunities for our future development." Hans Joachim Müller, CEO Azelis, said: "Our product portfolios are extremely complementary and demonstrate many synergies with principals, which is a paramount consideration in any acquisition. We are excited to welcome KDG to the Azelis Group.”
Both companies have shown strong performances during 2015. KDG has demonstrated extensive growth both organically, and fuelled by recent acquisitions into new markets. Investment in laboratory facilities, new products and customer-facing employees over the last three years is helping to drive Azelis’ year on year growth of more than 10% in Europe and more than 15% in Asia Pacific.
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