3i-backed Azelis in €30m capital increase
3i has taken part in a €30m capital increase for its portfolio company Azelis, a Belgian speciality chemicals distributor.
The news comes a year after the GP was rumoured to be auctioning off the business.
Azelis recently embarked on an ambitious growth strategy involving the hire of a new CEO and CFO, and the sale of its composite business to German trade player Velox. Azelis was acquired by 3i for €315m in 2007.
Company
Azelis was founded in 2001 through the merger of Novorchem in Italy and Arnaud in France. The business distributes speciality chemicals targeting a wide array of markets including pharma, polymers, and animal nutrition. The company is based in Antwerp.
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