Azelis Strengthens Its Position in L&MWF

Azelis Strengthens Its Position in L&MWF Azelis acquires Aktaş's distribution assets to reinforce its industrial chemicals footprint in EMEA. Azelis, a leading innovation service provider in the specialty chemicals and food ingredients sector, has announced the signing of an agreement to acquire Aktaş's specialty lubricants (L&MWF1) distribution assets in Turkey. The acquisition covers Aktaş's additive business and the base oil distribution business of Whitechem, an Aktaş affiliate. Aktaş and Whitechem operate with first-class management and maintain long-standing relationships with customers in Turkey and the surrounding region. The acquisition further strengthens Azelis's lateral value chain (LVC) in the L&MWF market segment, following the purchase of Umongo in South Africa earlier this year. This reflects another manifestation of Azelis's commitment to sustainability, broadening key relationships with a strong agenda on renewable and sustainable base oils. Azelis's technical experts aim to continuously drive innovation and sustainability in the segment and the broader market, with a dedicated application laboratory for L&MWF. The transaction is expected to close in the third quarter of 2022, following the satisfaction of customary closing conditions. Azelis EMEA CEO and President Anna Bertona: "Acquiring the distribution assets of Aktaş and Whitechem enables us to develop critical mass in the L&MWF market in EMEA. We have a clear strategy to further expand our presence in these specialty segments, and with this acquisition we now have all the key building blocks in place. When we brought Ekin Kimya into our fold in 2019, we had worked with Aktaş and developed a close relationship based on similar values and technical focus. We look forward to welcoming Aktaş into the Azelis family and growing Azelis's L&MWF business together." Aktaş Dış Ticaret A.Ş. Board Chair Muharrem Aktaş: "Today, we are delighted to announce that we have opened a new and secure path for our additive and base oil distribution business. Over the years, the Aktaş and Whitechem teams have built a strong business combining technical expertise with first-class management and close, long-standing relationships with customers. We are confident that we have found the right partner in Azelis to continue growing the business based on these fundamental components for success." Whitechem SA CEO Deniz Özgür Aktaş: "We are pleased to announce today that we have signed an agreement to sell our base oil distribution business to Azelis. Whitechem SA, a subsidiary of Aktaş, has demonstrated remarkable performance in this business over the years and has created a solid foundation for continuity. With its clear strategy and high level of dedication to the sector, we believe Azelis will grow these operations further." Dr. Murat Çıtıroğlu and Gamze Çıtıroğlu from Aktaş/Whitechem: "We are very pleased to be joining the Azelis team. With Azelis, we have a rich history through Ekin Kimya and decades of business partnership with first-class management at Aktaş/Whitechem. This new partnership will bring together two leading forces and allow us to manage the L&MWF market together. We will be able to benefit from the power of Azelis's extensive global network and cutting-edge products from first-class management. These combined synergies will create continuous growth, and we look forward to bringing this expertise to the market." 1Lubricants and Metal Working Fluids Source