Apax Partners has aquired cosmetic, flavor and fragrance ingredient specialty chemical company Azelis from 3i. The deal is expected to be closed in the second quarter of this year.
Azelis serves a range of sectors, including coatings, chemicals, rubber and plastic additives, food and health, animal nutrition, pharmaceuticals and personal care.
Azelis has expanded over the years in the United Kingdom, Benelux, Central and Eastern Europe, China, Japan and Southeast Asia.
"Apax Partners, together with the existing management team, intends to continue Azelis’ strategic focus on growing the business through ongoing development of its specialist product portfolio and continuing to extend its global reach, both organically and through acquisitions," an official statement notes.