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Brøste is now part of the leading European distributor of specialty chemicals
Brøste has joined the market-focused pan-European chemicals distribution group Azelis in a deal that will provide Azelis with geographic coverage of the important Nordic region.
Over the last five years the Azelis Group, owned by Electra Partners Europe, has actively pursued a growth strategy across Europe and was looking into establishing a presence in Scandinavia. Arietti & Partners, M&A International’s Italian partner who had previously advised Azelis on an acquisition in Germany, was appointed as lead advisor in conjunction with M&A International’s Danish and Swedish partners, Audon Partners and Avantus Corporate Finance.
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Brøste was identified as an ideal candidate. A leading distributor of additives, ingredients and raw materials in the North European market, the company has a turnover exceeding €120 million and supplies raw materials and chemical specialties from blue chip producers. Among the company’s extensive product range are performance chemicals (horticultural, agricultural, industrial, detergents and cosmetics, oleo-chemicals), specialty chemicals (polymers, additives and coatings), food ingredients (general, savory, health and bakery) and salt (de-icing, food grade and industrial). With headquarters in Denmark, and with over 130 employees, Brøste also has subsidiaries in Sweden, Norway, Finland, Iceland, Poland, the Baltic States and the UK.
Hans Udo Wenzel, CEO of Azelis Group, commented, “This is a significant milestone in the realization of the group’s ambition to become one of Europe’s leading specialty distributors. Brøste complements the sector-focused activities of Azelis which include food, pharma and cosmetics, veterinary, plastics, composites, rubber coatings and chemical industries. Brøste will provide us with access to additional markets in this important geographical region.”
Brøste’s CEO Jens U. Schrøder added, “Our entrepreneurial approach to doing business and our values and business vision fit very well with the Azelis culture. Day to day contacts with customers will remain the same ensuring continuity of knowledgeable local service and I believe that they, and all our other business partners, will benefit significantly from this decision to become part of Azelis.”
The company, which has been established since 1915, will continue to trade as Brøste under the current management team led by Jens Schrøder. Former owner, Peter Brøste will become a member of the Azelis Advisory Board and an investor in the Azelis Group. This latest addition to the Group takes the expected Azelis group sales in 2005 to over €820 million.
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