Azelis, the chemical distributor owned by buyout firm 3i Group Plc, agreed to form a partnership with Marubeni Corp. to accelerate expansion in Asian markets.
The companies have identified “many complimentary synergies” that will result from working together, Azelis and Marubeni said today in a joint statement. The immediate focus for the partnership is China as Japanese companies relocate capacity to the country.
“Finding a reliable distribution partner who provides in-depth market insights to define the winning approach to the market has been a challenge for western specialty producers,” Azelis Chief Executive Officer Joris Coppye said in the statement. “Marubeni and Azelis aim to change that.”