Azelis buys in Thailand
Distribution giant Azelis has made another acquisition in the form of a majority stake in Catalite to follow many others across the globe.
Founded in 2015, Catalite is a distributor of speciality chemicals in the personal care, home care and other market segments in Thailand. The deal is expected to close within Q1, subject to customary closing conditions. CEO Udomlak Kootiratrakarn and COO Vaivit Arkaresvimun will continued to lead the business and all 49 employees will transfer to Azelis. Terms were not disclosed.
“With an attractive portfolio of products from several key principals, Catalite serves a large, growing customer base from its site in Bangkok, providing the Group a solid platform to accelerate its growth in the domestic market, and the wider Asia Pacific region,” Azelis said.