Global specialty chemical distributor, Azelis Group (Azelis) has recently purchased US-based Koda Distribution Group (KDG) for an undisclosed sum. The transaction will be finalized by the end of 2015.
This year continues to mark a strong period of growth for both companies. KDG has shown positive performance initiated by recent acquistions; whereas Azelis' latest investments in laboratory facilities, new products and customer service within the last three years has driven the company's growth of over 10% in Europe and over 15% in Asia Pacific.
In a recent press release, both companies shared the same sentiment on expanding the specialty chemicals market in the US. Frank Bergonzi, CEO/president of KDG highlighted the two companies similarities while addressing the importance of maintaining KDG's strong internal infrastructure.
Of the acquisition, Bergonzi said, "The Azelis approach to the specialty chemicals market aligns extremely well with the KDG model. This partnership allows our management, staff and approach to customers and suppliers to remain unchanged."
CEO of Azelis, Hans Joachim Müller, addressed the specialty chemicals market trends in North America as a major influence to the acquisition.
Müller added, "The specialty chemicals market in North America is extremely important and the trend of suppliers moving their smaller accounts to specialty chemical distributors will continue for some time. As we got to know the team at KDG, it became clear that they share our values and we believe that they are an excellent partner to expand our business into the USA and build on our existing business in Canada."