Private Equity - 3i

In December 2006 Azelis agreed a change of share ownership with the leading global finance house 3i.

3i has international presence, experience and knowledge of the chemical distribution sector and a pragmatic and hands-on way of working with their managing partners. 3i are fully supportive of existing development plans for Azelis based on continued growth through targeted acquisition plus increased organic growth, leading to probable flotation by 2012.

There have been no changes to the management team and all Azelis Operating Partners have reinvested in the Group.