Azelis, a leading distributor of specialty chemicals and food ingredients, has acquired a majority shareholding of MKVN
Chemicals Co Ltd (MKVN Chemicals) and Viet Chemicals Trading and Service Co Ltd (Viet Chemicals) through their parent
company Bellekimia Singapore Pte. Ltd (Bellekimia). Both companies are active in personal care, industrial chemicals,
agro and food segments as well as supply chain solutions. Founded in 2000 and with offices in Hanoi and Ho Chi Minh,
MKVN Chemicals and Viet Chemicals have a strong reputation in Vietnam, serving first-class international principals and
700 customers.
The strong market presence and know-how of the local MKVN Chemicals and Viet Chemicals team will increase Azelis'
presence in Vietnam allowing significant portfolio expansion through lateral integration. Being the 15th most populated
country in the world, Vietnam's young workforce, increasing purchasing power, and growing access to premium products are
expected to benefit MKVN Chemicals' and Viet Chemicals' main business activity in personal care.
This transaction is consistent with Azelis' corporate strategy of complementing organic growth with strategic
acquisitions.
Mr. Kamal Hezry Kassim, Managing Director of MKVN Chemicals and Viet Chemicals, will continue to manage the business and
will report to Azelis Asia Pacific CEO & President, Laurent Nataf.
Mr. Laurent Nataf, CEO & President of Azelis Asia Pacific, explains, "Growth in Asia Pacific has been one of the strategic priorities for
Azelis. By strengthening our presence in Vietnam, we will gain better coverage in the entire region which is key for us
to attract new mandates with our existing principals. Azelis and our new partners MKVN Chemicals and Viet Chemicals have
highly complementary business models which will help us diversify our product portfolio significantly. MKVN Chemicals
and Viet Chemicals currently operate best-in-class personal care laboratories in Vietnam. These laboratories will
provide important added value to Azelis' existing technical expertise and will bring benefits to the entire region. Last
but certainly not least, the Kassim family have an excellent reputation on the market and the entire management team is
well known and respected in the country."
Mr. Kamal Hezry Kassim, Managing Director of MKVN Chemicals and Viet Chemicals, adds, "We are very excited about this
partnership for several reasons. Firstly, becoming part of such a highly regarded, international player will not only
provide continuity and security for our company but also additional expertise, infrastructure and growth opportunities.
Secondly, we will benefit greatly from Azelis' sustainability reputation and EcoVadis Gold rating, which are both
important criteria for customers and corporate principals alike in South East Asia. Thirdly, there is an excellent fit
between our strong technical focus on one side and Azelis' ability to offer innovative solutions to the market on the
other. In short, joining forces with Azelis will bring great synergies not only for both companies but also will be
beneficial for our principals and customers alike."
Azelis has been active in Vietnam since 2015 and employs some of the best industry professionals in the country. Azelis
runs application laboratories for Personal Care, Home Care, CASE, and Textiles in Vietnam.
The acquisition of MKVN Chemicals and Viet Chemicals illustrates the support provided by EQT since the initial
acquisition of Azelis. EQT is confident that the expanded range of services and global reach provided by this
acquisition will continue to bring benefits to customers and principals of the combined group.
About Azelis
Azelis is a leading distributor of speciality chemicals and food ingredients present in over 50 countries across the
globe with around 2,200 employees. Our knowledgeable teams of industry, market and technical experts are each dedicated
to a specific market within Life Sciences and Industrial Chemicals. We offer a lateral value chain of complementary
products to about 40,000 customers, creating a turnover of EUR 2.15 billion (2019).
Throughout our extensive network of more than 60 application laboratories, our award-winning technical staff help
customers develop formulations. We combine a global reach with a local focus to offer a reliable, integrated service to
local customers and attractive business opportunities to principals. And we believe in building and nurturing solid,
honest and transparent relationships with our people and partners.
Impact through ideas. Innovation through formulation.
www.azelis.com