Azelis buys two in India
Azelis has acquired Spectrum Chemicals and Nortons Exim in India from the Mehta family on undisclosed terms. Both specialise in the distribution of speciality chemicals for home care, road markings, agrochemicals and other applications. Current owner Parindu Mehta will remain at the helm.
The company said that this will give it better access to other regions of India – Spectrum has offices in Mumbai and New Delhi – plus cross-selling opportunities in related markets and growth in agrochemicals and road marking. It plans to set up an agrochemicals lab to support three it already runs in India for CASE, personal care and food.
Azelis has been active in India since 2008 and has quadrupled its sales since 2018, according to Laurent Nataf, CEO and president in the Asia-Pacific region. This has come through a mixture of organic growth and acquisitions in the food and pharma sectors via MK Ingredients and Zhaveri respectively.