Azelis enters the Philippines through the majority shareholding acquisition of ASIA PRIMERA KIMIKA INC. and PHIL-ASIATIC SUPPLY & SERVICES INC.
12 January 2021
Azelis is delighted to announce it will acquire majority shares of ASIA PRIMERA KIMIKA INC. (APKI) and PHIL-ASIATIC SUPPLY & SERVICES INC. (PSSI). The companies were established in 2007 by Mr. Mohd Kassim bin Salleh and the late Ms. Cris S. Aquino, both pioneering figures in the chemical business in Malaysia and the Philippines, respectively. The companies are reputed for their deep experience in providing technological innovation, research and integrated services in personal care, home care, paints, coatings, construction and inks, industrial chemicals and supply management.
Highlights & rationale
- Azelis enters the Philippines and significantly increases its footprint in South East Asia through the partnership with APKI and PSSI.
- The Philippines has over 100 million inhabitants, a rapidly growing economy and young workforce with the median age being 26 years old.
- APKI and PSSI’s strong market presence in its major business activity - personal care - benefits directly from the population’s increasing purchasing power and growing access to premium products.
- The closing of the transaction, consistent with Azelis’ corporate strategy of complementing organic growth with strategic acquisitions, is expected in the next three months.
Mr. Laurent Nataf, CEO & President of Azelis Asia Pacific, comments:
“Growth in Asia Pacific is one of the strategic priorities for Azelis. Entering the important and growing market of the Philippines will help us gain an even better coverage in the entire region which is key for us to attract new mandates with our existing principals. Many of our principal partners have already expressed interest in building a strong portfolio with us in the country once we enter into this partnership, also in industries other than the ones where APKI and PSSI are currently active. There is a very good cultural fit between APKI and PSSI and Azelis, for example in terms of strong technical focus and quality of the staff, so I am confident that this new union will bring many benefits to the entire region.”
Ms. Terry Del Rosario, Managing Director of APKI and PSSI, adds:
”Azelis and APKI and PSSI have highly complementary business models which will help us diversify our product portfolio significantly. We will leverage Azelis’ strong focus on the food industry in Asia Pacific which will help us expand our presence in this market. There is an excellent technical fit that we see between the two companies: we convert innovative ingredients to innovative products and ideas retrofitting it to the local market needs while Azelis has the ability to continually offer innovative solutions to the market through their strong formulation capabilities. Our combined extensive know-how, value-added services and industry experience create solutions for the needs and challenges of our customers. Azelis’ sustainability reputation and EcoVadis Gold rating will add value and give delight to our principals and customers as these are equally important to both of them. Last but not least, becoming part of such a highly regarded and big international player will not only provide continuity and security for our company but also additional and enhanced expertise, infrastructure and growth opportunities.”
The acquisition of APKI and PSSI 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.