3i looking to offload Azelis
3i has hired Bank of America Merrill Lynch to run the auction process for Belgian chemicals distributor Azelis, according to media reports.
3i acquired the company in 2007 for €315m. It is now reportedly focusing on trade players as preferred buyers for the asset.
Founded in 2001 through the merger of Novorchem in Italy and Arnaud in France, Azelis is a chemical distributor based in Antwerp. The company targets a wide array of markets including pharma, polymers, and animal nutrition. Azelis posted a €825m turnover and €44m EBITDA for 2009.
More on Benelux
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater
EU FSR could impact PE fundraising with potential rise in ‘clean funds’
FSR could lead GPs to create funds without foreign LPs; red tape around sovereign wealth funds likely
Letter from the editor: Unquote is moving to Mergermarket
Unquote Editor Harriet Matthews outlines Unquote.com's upcoming move to the Mergermarket platform and the new capabilities and intelligence that this brings to Unquote readers
Evoco expects portfolio acquisitions, assesses potential exits in 2H23
Switzerland-headquartered GP is currently deploying equity via its EUR 162m Evoco TSE III fund
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater