Azelis, a global distributor of speciality chemicals and food ingredients, has announced the acquisition of Chemroy, a Canadian distributor of speciality chemicals and food ingredients. The transaction sees Azelis acquire 100% of Chemroy Canada Holdings Inc.
Commenting on the announcement, Frank Bergonzi, CEO and President Azelis Americas, said: "This transaction is an important milestone for Azelis in the Americas. Chemroy is a leading distributor of speciality chemicals and food ingredients in Canada, with an excellent reputation. We share similar values and culture, and this combination will ensure a more robust product portfolio to our customers."
Chemroy was founded in 1967 and employs 59 people. Headquartered in Brampton, Ontario, the company offers warehouse infrastructure across Canada and has further offices in Laval, Quebec and Vancouver, British Columbia.
"With the acquisition of Chemroy, we establish a strong footprint in Canada," commented Hans Joachim Müller, Group CEO Azelis.
"This is an excellent strategic fit and we are excited by the opportunity for further growth, in both Canada and the US. Chemroy's activities in the food and nutraceutical markets will allow us to expand this segment, by leveraging our relationships with global partners," he added.
John Graham, President at Chemroy, continued: "We are confident in the success of this acquisition, which is an exciting opportunity for our employees to join forces with an established global player in Azelis. We share similar strategies and culture and I am confident that Chemroy will continue to thrive under its new ownership."
For Azelis, the acquisition of Chemroy illustrates the support provided by EQT since the Swedish private equity firm acquired the company.
Chemroy's acquisition is the second deal Azelis has announced this year. The company acquired the distribution activities of MK Ingredients & Specialties and SSD Industries (combined ”MK”) in India.
