Speciality chemicals company Azelis has acquired a majority stake in Thailand's Catalite Co, a distributor of speciality chemicals for the personal care and home care sectors, as it continues to strengthen its footprint in the Asia Pacific region.
Operating from its site in Bangkok, Catalite offers a wide portfolio of products for its customers in sectors including cosmetics, personal care, home care and intermediate chemicals, which Azelis hopes will boost its growth in both Thailand's domestic market and the wider region.
Laurent Nataf, CEO & President of Azelis Asia Pacific, said: “A strengthened presence in Thailand deepens our coverage in Asia Pacific, which is one of the strategic priorities for the Group.
“Principals benefit from Azelis’ wider platform in this high-growth region, while customers benefit from Catalite’s and Azelis’ complementary portfolio of products, and combined ability to provide innovative solutions and best-in-class services.
“This transaction is aligned with Azelis’ strategy to complement organic growth with strategic value enhancing acquisitions.”
The acquisition will see Catalite's 49 employees join the Azelis group, while Udomlak Kootiratrakarn and Vaivit Arkaresvimun will retain their roles as CEO and Chief Commercial Officer of Catalite respectively.
Kootiratrakarn added: “We are pleased to embark on this new chapter in our company’s history with Azelis.
“Becoming part of a renowned international player will be beneficial for our company, customers and principals, with numerous opportunities for growth, and great synergies for both companies.
“Combining our strengths with Azelis’ will give us access to other reputable principals, further reinforce our technical expertise and formulation development, and enable us to better serve our customers.”
The latest deal follows Azelis' acquisition of Ingredients Plus' Greater China operations in 2021, which it said at the time would further enhance the company's lateral value chain and solidify its position in the Chinese personal care industry.
The acquisition is expected to close in the first quarter of 2022.